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Bank Activity Worse

FDIC reports 4th quarter data

February 23, 2007

By MortgageDaily.com staff

Quarterly delinquency rose while loan growth slowed at federally-insured banks.

Total real estate loans outstanding of $4.51 billion in the fourth quarter last year included $2.18 billion of "other" one- to four-family residential loans and $0.56 billion in home equity loans, the Federal Deposit Insurance Corp. reported. Residential volume was unchanged from the third quarter and HELs edged up $0.01 billion.

Mortgage lenders held $$0.74 billion of the quarter's residential loans and $0.09 billion in HELs, while commercial banks held $0.72 billion and $0.21, respectively.

Total loans and leases had the smallest quarterly growth in nearly five years, FDIC said, noting that "declining growth in residential mortgage loans and real estate construction and development loans accounted for a large part of the slowdown in lending growth."

Residential mortgage loans that were 90 days or more past due or in nonaccrual status increased by $3.1 billion, or almost 16 percent, during the fourth quarter after increasing by $974 million in the third quarter.

Insured bankers' net income reportedly edged down from the third quarter to $35.7 billion.

"The banking industry continues to perform well, even as an inverted yield curve and a weakening mortgage market have made the operating environment more challenging," said FDIC Chairwoman Sheila C. Bair in a written statement. "While institutions are generally well positioned from a capital perspective, bankers and regulators should ensure that risk-management practices are also equal to the challenges."

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