Countrywide Home Loans, Calabasas, Calif., funded $39 billion in mortgages during July, a 6% gain from the level recorded a year earlier, but a 14% drop from that of the previous month.Figures released by the company also show that purchases by its capital markets group plummeted by 86% to just $508 million during the month. So far this year, Countrywide's capital markets group has bought $14.8 billion, compared with $44 billion for the same period last year, a 66% decline. Company president David Sambol said the lower volume "reflects our tighter lending guidelines that have significantly curtailed total production." Countrywide can be found on the Web at http://www.countrywide.com.
Processing Content
