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February 22, 2008
Countrywide: Delinquencies Up
Countrywide Financial reports a two-fold increase in its foreclosure rate to 1.48 percent during the year-over-year period ended in January. Over the same time span, the company's delinquency rate surged to 7.47 percent of unpaid balances. Meanwhile, a drop in benchmark interest rates made refinancing an attractive option, bolstering average daily applications by 72 percent from the prior month to $2.64 billion.
Posted by S. Germain at February 22, 2008 08:02 AM