Countrywide (CFC) said "it funded 48 percent fewer home loans in October than a year earlier," according to Reuters.
The news agency said Countrywide said it funded $22 billion of home loans in October, down from $41.9 billion a year earlier, but up 4 percent from September. Adjustable-rate loan volume fell 81 percent from a year earlier to $3.1 billion, while subprime loan volume totaled just $42 million, down from $3.3 billion.
It appears that most risky loan pools are dropping.
Shares were flat on the news.
Douglas A. McIntyre
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