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Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

BB&T Slashes Delinquency

$8.3 billion in Q1 originations

April 19, 2012

By staff

Loan originations slipped at BB&T Corp., though business was up more than 40 percent from a year earlier. The rate of delinquency was down more than 100 basis points from the prior quarter and more than 200 BPS lower than a year previous.

Residential loans originated by the Winston-Salem, N.C.-based company during the first quarter totaled $8.250 billion, according to earnings data. Retail production was $3.1 billion, while correspondent originations were $5.2 billion.

Business eased from $8.424 billion in the final three months of last year. During the first three months of 2011, loan production was $5.802 billion.

BB&T's total servicing portfolio finished last month at $94.626 billion. The company serviced $91.640 billion as of the end of 2011. As of March 31, 2011, the servicing portfolio was $86.068 billion.

The third-party portion of the servicing portfolio grew to $70.318 billion from $67.066 billion as of Dec. 31.

BB&T owned $21.513 billion in residential mortgages as of March 31, growing the portfolio from $20.581 billion at the end of last year. The mortgage investment portfolio was just $18.228 billion during the same three months last year.

Delinquency of at least 30 days on its investment portfolio was 3.67 percent, sinking from 4.99 percent at the end of last year. The rate of past-due payments was 5.92 percent as of the same time last year.

Commercial real estate loans slipped to $10.543 billion from $10.689 billion and were lower than $11.277 billion at the same point last year. Residential acquisition-development-construction holdings fell to $1.823 billion from $2.061 billion three months earlier and $3.061 billion a year earlier.

Income before taxes at the residential mortgage banking division was $205 million, climbing from $59 million in the fourth-quarter 2011. A year prior, mortgage banking had an $8 million loss.

Earnings before income taxes at the entire corporation climbed to $634 million from the prior quarter's $484 million and from $287 million in the first-quarter 2011.

Headcount at all of BB&T was reduced to 31,185 from 31,774 at the end of December. The staff size was 31,365 as of March 31, 2011.

As of the end of last month, 1,773 banking offices were open. The count was six less than the prior quarter and eight less than the same quarter in the prior year.

BB&T profile

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