Countrywide Is First Servicer to Reach $1 Trillion.

Calabasas, CA -- Countrywide Fina-ncial Corp. in April officially reached a milestone that no other lender has reached before when its mortgage servicing portfolio exceeded $900 billion.

But a deeper look at the numbers reveals another startling milestone: the company actually manages over $1 trillion of home loans when its international subservicing business is added to the mix.

At the end of April, Countrywide owned servicing rights on $914 billion of home loans, the company reported in its monthly operational data. That was an increase of 32% from one year earlier.

Countrywide now manages 6.6 million home loans domestically.

Countrywide also reported that its subservicing volume managed by its Global Home Loans subsidiary totaled $116 billion, meaning the company manages $1.03 trillion in home loans on a consolidated basis.

By almost any measure, the Countrywide growth story continues unabated, despite an industrywide slowdown in loan origination volume in the second half of last year. Mortgage origination volume declined 9% in the second half of 2004 compared to the first half, according to the Mortgage Bankers Association.

In the first four months of this year, Countrywide funded $126 billion of home loans, helping to fuel growth in the servicing portfolio. Nonprime lending accounted for $13 billion of Countrywide's year-to-date funding.