Countrywide Financial on Tuesday said its mortgage loan volume dropped nearly 17 percent in 2004 from record levels the previous year, when historically low rates stoked refinancing and home buying.
Countrywide financed $363 billion in mortgage loans in 2004, down from its all-time high of $435 billion the year before.
Despite the sharp drop in overall financings, Countrywide said 2004 was its second-best year since the company’s inception in 1969.
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