home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Accredited Originations Ascend

$4.1 billion 2nd quarter production

August 9, 2006

By MortgageDaily.com staff

Accredited Home Lenders Holding Co. pumped up its second quarter volume.

The nonprime lender today announced it originated nearly $4.1 billion for the three months ending June 30, up from the first quarter when activity fell to $3.6 billion. The latest total, however, is slightly off from the level in the comparable period a year ago.

Wholesale loans accounted for 87 percent of the quarter's fundings and retail originations the rest, according to the San Diego, Calif.-based company's earnings announcement.

The weighted average coupon rate and credit score was 8.47 percent and 638, respectively, the announcement said.

The servicing portfolio ended the quarter at a reported $9.5 billion, and 3.76 percent of the loans were late 30 days or more.

Accredited said the net cost to originate mortgage loans was 1.34 percent, down from 1.60 percent in the first quarter.

"We are pleased with profit and cost results in the second quarter and the first half of 2006 that presented some of the most challenging market conditions in recent memory," Chairman and Chief Executive James Konrath said in the written statement.

Accredited, which will soon expand with its acquisition of Aames Investment Corp., said its employee count was 2,902 as of the end of the quarter, which is 276 more than in the previous linked period.

Net income rose from the prior quarter to $41.2 million, according to the announcement.

However, Accredited lowered its earnings guidance for 2006 to between $4.50 to $5.00 per share, including $1.00 to $1.35 of dilution related to the Aames merger.

The company said "the most significant items" in revising the 2006 forecast included lower than anticipated origination volume and net gain on whole loan sales below previous expectations.

Nonprime and Subprime News | Subprime Statistics
Stories about non-QM products. Coverage of subprime, Alt-A and
hard money lending. Home-equity loans and home-equity lines of credit.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders