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May 16, 2008
2007 Subprime Off 70 Percent
Subprime origination volumes plummeted 70 percent to $180 billion in 2007, according to a new survey from National Mortgage News and the Quarterly Data Report. Countrywide Financial originated $16.9 billion in subprime loans (down 58 percent) and was followed by Option One Mortgage with $13.9 billion (down 53 percent), First Franklin Financial with $13.6 billion (down 51 percent), Wells Fargo with $13.3 billion (down 52 percent) and Chase with $11.4 billion (down 1 percent).
Posted by S. Germain at May 16, 2008 07:53 AM