Countrywide Financial Corp. said Wednesday that its mortgage volume rose 16 percent in January to $33 billion from a year earlier despite concerns of a downturn in the red-hot housing market.

January’s mortgage volume was down 26 percent from December’s $44 billion, due to what the Calabasas-based residential mortgage lender said was “largely a result of normal seasonal effects.” By comparison, January 2005 fundings fell 19 percent from December 2004, the company said in a statement.

Average daily mortgage applications rose 14 percent to $2.4 billion, and Countrywide’s loan pipeline or loans in process increased 20 percent to $57 billion as of Jan. 31. Both numbers were down slightly from December’s $2.5 billion and $60 billion, respectively.

Mortgages that Countrywide purchased from others rose to $14 billion last month, an increase of 14 percent from the year-prior period.

Stanford L. Kurland, the company’s president and chief operating officer, said in a statement that Countrywide was the number one mortgage originator and servicer for 2005, according to Inside Mortgage Finance.

Countrywide Bank’s total assets also rose 76 percent from a year ago to $76 billion, which is $33 billion more than January 2005’s reported assets.

Shares of Countrywide were up 1.8 percent to $33 in mid-afternoon trading on Thursday.