Countrywide Sees Production Drop 40 Percent in November; Delinquencies Jump

Delinquencies — representing newly-troubled borrowers not yet in foreclosure — climbed dramatically during November, with the number of delinquent loans rising 41 basis points as a percentage of loans serviced to 6.34 percent. The number of delinquent loans stood at 4.57 percent one year ago. As a percentage of unpaid principal balance, delinquencies rose an even more staggering 58 basis points.