Countrywide Says Loan Volume Dropped by 8.3%

Countrywide Financial Corp., one of the nation’s largest mortgage lenders, said its February loan volume dropped 8.3% from the previous month, marking the second straight monthly decline.

Taken together, they could be an early sign that the booming refinancing business is tapering off, which analysts are expecting. However, the Calabasas-based company said there were three fewer selling days this February.