Calabasas, California-based Countrywide Financial Corp. experienced a jump in delinquencies last month when compared to the same period a year earlier.

According to the lender’s December 2007 Operational Results, delinquencies at Countrywide hit 7.20-percent in terms of delinquencies as a percentage of unpaid principal balance in December. The percentage is an increase when compared to the 4.60-percent delinquency rate recorded at Countrywide a year earlier.
Pending foreclosures as a percentage of unpaid principal balance also increased from .70-percent in December 2006 to 1.44-percent in December of 2007. In addition, Countrywide’s report shows that mortgage loan activity between November of 2007 and December dropped from $1.9-billion to $1.5-billion in a month’s time.
Click here to read Countrywide’s full operational report.