Countrywide Posts Surge in Lending Volume

Countrywide Credit Industries Inc., the largest independent mortgage lender, said its lending volume rose 19% to $17.1 billion in July from $14.4 billion in June, led higher by people refinancing their home loans.

Loans to buy homes rose 1.7% to $8.45 billion, while loans to refinance homes rose 43% to $8.68 billion, the Calabasas firm said.

Average daily loan applications rose 28% to $1.37 billion.

Countrywide’s shares jumped $2.88, or 5.6%, to $54.10 on the NYSE.