For Countrywide, The Road Is Narrowing

To see how times have changed for mortgage bankers, look no further than Countrywide Credit Industries Inc. Just a year ago, the Pasadena (Calif.)-based company was flying high. It was the biggest originator of home mortgages in the country, riding a wave of mortgage refinancing that pushed its lending volume from $12 billion in 1991 to $52 billion in 1993.

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