Countrywide Financial Corp. reported another down month amid a sagging national real estate market.
However, the nation’s top mortgage lender reported average daily mortgage loan application volume was up 11 percent to $2.7 billion, which could portend a future increase in loan funding.
December mortgage loan funding totaled $42 billion, a 7 percent dip from the same period year earlier.
The Calabasas-based lender also saw monthly purchase volume drop 20 percent to $17 billion, home equity loan funding slide 19 percent to $3.3 billion and non-prime loan originations fall 16 percent to $3.7 billion.
Shares in Countrywide were up 38 cents to $42.95 in midday trading Friday.