Mozilo Comments on GSE G-Fee Hikes

Countrywide Financial Corp. chairman and chief executive Angelo Mozilo said Thursday that his company cannot pass on all additional guarantee fee charges to the lender's customers.In a brief interview with MortgageWire, Mr. Mozilo said, "You have to try and pass on those costs, but it's tough in this market. You cannot pass on the entire cost." Countrywide sells its conventional production to both Fannie Mae and Freddie Mac, which in recent months have hiked their "g-fees" to as high as 25 basis points. (Individual seller/servicers do not disclose their g-fee deals. In years past some lenders were paying as little as 12 bps, sources said.) Meanwhile, Countrywide released its November production numbers, reporting that loan production totaled $23 billion, a 40% decline from that of November 2006. Retail production fell 29%, wholesale 55%, and correspondent 46%. The company can be found online at http;//www.countrywide.com.