Mortgage brokers helped Accredited Home Lenders achieve record loan production.
Fourth quarter mortgage production was a milestone $4.7 billion, climbing $0.2 billion from the previous period, according to Accredited's earnings announcement today. The latest figures are about a third better than reported a year prior.
Record full-year fundings of $16.6 billion rose from $12.4 billion during 2004, the San Diego-based company reported.
Brokers generated 90% of last year's volume, Accredited said, and the rest came from retail originations.
Accredited said 30-day delinquency at yearend on its $9.7 billion servicing portfolio was 2.47%.
The company reported net income of $43.3 million for the fourth quarter.
Commenting on what has been a difficult year for the real estate finance sector, Chairman and CEO James Konrath said, "We expect 2006 to present an equally challenging environment."