Foreclosures Up 149% With Countrywide

October 12, 2007 · Filed Under Economic Impact of Foreclosures 

Countrywide Financial had a 1.27% foreclosure rate on its servicing portfolio at the end of September, a 149% increase from that of the same period last year.

According to September operational figures released by the company, Countrywide serviced $1.459 trillion worth of loans at Sept. 30, which means $18.5 billion worth of mortgages it services are in the "foreclosures pending" category.

Roughly 5.85% of its servicing portfolio is delinquent. Countrywide funded $21 billion in loans in September, a 44% decline from the level recorded in September 2006. It also saw its employee headcount fall by 4,935 during the month, most of it, presumably, due to layoffs.

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2 Responses to “Foreclosures Up 149% With Countrywide”

  1. Your Foreclosure . Info » Foreclosures Up 149% With Countrywide UNITED STATES WordPress 2.1.1 on October 12th, 2007 5:12 PM

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  2. Foreclosure » Foreclosures Up 149% With Countrywide WordPress 2.1.1 on October 12th, 2007 6:49 PM

    [...] unknown wrote an interesting post today onHere’s a quick excerpt[tag-cat]Countrywide Financial[/tag-cat] had a 1.27% foreclosure rate on its servicing portfolio at the end of September, a 149% increase from that of the same period last year. According to September operational figures released by the … [...]

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