Another $3 Trillion Year?

While the Mortgage Bankers Association expects mortgage origination activity to total about $2.8 trillion this year, the chief executive officer of the country's largest mortgage banking company believes the tally may exceed $3 trillion.In a conference call to discuss Countrywide Financial Corp.'s third-quarter results (see item below), Angelo Mozilo said Countrywide's internal projection of loan origination activity industrywide calls for the 2005 origination tally to range from $3.0 trillion to $3.2 trillion this year. Based on its own estimate of mortgage origination activity this year, Countrywide believes that it has achieved a 15.6% loan production market share, Mr. Mozilo said. The company can be found online at http://www.countrywide.com.