Current Housing Indicators |
| CURRENT | PREVIOUS | ||
| Existing Home Sales | 4.49m | ▼ | 4.74m |
| New Home Sales | 309,000 | ▼ | 344,000 |
| Housing Starts | 583,000 | ▲ | 477,000 |
| Building Permits | 547,000 | ▲ | 531,000 |
| HMI | 9 | UNCH | 9 |
| Existing Home Prices | $170,300 | ▼ (annually) | $199,800 |
| New Home Prices | $201,100 | ▼ (annually) | $232,400 |
Realty Check Video Gallery
More Videos
- Treasury On Mortgage Modifications
- Citi Mortgage Reveals What Treasury Won't
- Investors May Skew Housing Reality
- 100% Mortgage Financing From USDA
- Despite Government Aid, Foreclosure Crisis is Not Improving
- Housing Data Delivers Mixed Messages
- Appraisals Now Center Stage in Housing Recovery
- Underwater Mortgages Could Sink Even Deeper
- First Time Buyers Rescue Housing: Realtors
- Housing Recovery 'Still In Uncharted Territory': HUD Secretary
MOST SHARED
- Ritz-Carlton ?Struggling? in the US: President
- Garlic Price Rises Surpass Gold, Stocks in China
- New-Home Sales Jump 6.2% To Highest Level in Over Year
- S&P Stocks Trading at New 52-Week Highs
- Oil Price to Average $75.40 in 2010: Poll
- Half of Banks' Losses May Still Be Hidden: IMF Head
- Consumer Mood Improves, But Anxiety Over Personal Finances
- Jobless Claims Below 500,000, Durable Orders Slip
- Foreign Demand Boosts US 7-Year Treasury Sale
- Mortgage Demand Slips as Rates Hold Near Lows
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
- S&P Stocks Trading at New 52-Week Highs
- 4 Food Stocks to Stuff in Your Portfolio: Analyst
- S&P at 1050-1200 Trading Range Next Year: Strategist
- 'Cancer of Fraud' Permeates Health Care System: Critics
- For Many in US, It Will Be a Scaled-Down Holiday Season
- Judge Erases Couple's $525,000 Mortgage Payment
- Where Do Pardoned Turkeys Go?
- Foreign Demand Boosts US 7-Year Treasury Sale
- Google CEO Schmidt Makes Secret Visit to Iraq
- New-Home Sales Jump to Highest Level in Over a Year
- Consumers Catching the Holiday Spirit
- Jobless Claims Below 500,000, Durable Orders Slip
RSS FEED
» Help
powered by digg
Realty Check
Text Size 
Aug.14
3:13 PM ET
Tuesday, 14 Aug 2007
Countrywide: Fewer Loans, More Workers?
Posted By:Diana Olick
Topics:Interest Rates | Housing | Real Estate
Sectors:Financial Services
Companies:Countrywide Financial Corp
 |
Countrywide.com CFO David Sambol |
] this morning, and it left me scratching my head. The company reports that foreclosures and delinquencies among home loans that Countrywide services rose in July to their highest level in several years... delinquencies up a full percentage point and foreclosures up a half point. The company reports it made 14% fewer home loans in July than in June and applications fell 15% to a nine-month low.The CFO of Countrywide, David Sambol, blames the drop in business on tighter lending standards, and coincidentally I received a memo yesterday from a mortgage broker I know. It's from Countrywide:
"Due to ongoing changes in the market, Countrywide, America's Wholesale Lender, is introducing an entirely new set of lending guidelines effective immediately."
Under the "all new" parameters category: Non-Conforming Programs, PayOption ARMs, Fixed Rate Second/HELOC. All effective ASAP.
But on top of this, Countrywide announces that it added 1,159 jobs in July. Hmmm. I see this as I recall the video not two weeks ago of all those American Home Mortgage former employees carrying their cardboard boxes out of the building. I know Countrywide is not in dire straits (at least that's what they say), but wouldn't you think these folks might want to tighten up a bit in these tight times?
Questions? Comments?
© 2009 CNBC, Inc. All Rights Reserved
MORE FROM CNBC
COMPANY : Countrywide Financial Corp
Data is a real-time snapshot *Data is delayed at least 15 minutes