Application volume at Countrywide Financial Corp., Calabasas, Calif., surged 33% in January (to $1.78 billion) from that of the previous month, although it was down about 11% from the volume recorded a year earlier, according to the company.The application pipeline increased 16%, to $38 billion, from the total in December, while loan fundings declined to $21 billion, the company reported. Countrywide attributed the funding decline to homebuying seasonality and a short working month of 20 business days. Countrywide's servicing portfolio stood at nearly $658 billion at the end of January, up 40% from $469 billion a year earlier. Countrywide can be found online at http://www.countrywide.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25