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CALABASAS, CA -- Countrywide Financial Corp.'s mortgage servicing portfolio totaled $1.2 trillion at the end of August, the company said in a monthly operational report.
That was an increase of 20%, or by $208 billion, from one year earlier, Countrywide said. Countrywide serviced nearly 7.9 million home loans in August. The company said its portfolio had a delinquency rate of 4.15%, up from 3.68% a year earlier.
The company also continued to report strong loan origination volume. Countrywide's loan fundings totaled $40 billion in August, 24% higher than in August of 2005. But despite the strong August volume, year-to-date funding volume remains shy of Countrywide's 2005 numbers. In the first eight months of the year, Countrywide produced $296 billion of loans, a drop of 4% from the volume posted in the same period last year.
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