Countrywide lends less than in June, hires more

NEW YORK (Reuters) - Countrywide Financial Corp. CFC.N, the largest U.S. mortgage lender, on Tuesday said it funded a lower amount of home loans in July than in June after tightening lending standards, but added more than 1,100 employees as smaller rivals folded.

The company also said the pace of foreclosures and homeowner delinquencies rose to levels not seen in several years.

July home loans totaled $39.06 billion, up 6 percent from $36.94 billion a year earlier, but down 14 percent from June's $45.26 billion. Nonprime loans, including "subprime," were $1.8 billion, down 46 percent from a year earlier and 3 percent from June.

"Our tighter lending guidelines (have) significantly curtailed total production," Chief Operating Officer David Sambol said.

Countrywide makes roughly one in six U.S. mortgage loans. The Calabasas, California-based company said it added market share despite what it has called "unprecedented disruptions" in the debt market and secondary market for mortgages.

(Reporting by Jonathan Stempel with additional reporting by Dan Wilchins)