|
|
|
|
|
|
Complete list of specialty news sections.
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.
Archive of MortgageDaily.com stories by month going back to 1999.
Reports and announcements from MortgageDaily.com.
Data and statistics for real estate finance.
Directories of lenders, branch operators and mortgage service providers.
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.
|
| Originations Decline at BB&T
Q2 production down 2% from Q1; delinquency improves
July 19, 2012
By MortgageDaily.com staff
|
While most of its competitors have reported an increase from the first quarter in home-loan production, BB&T Corp. actually originated less. Mortgage earnings were also worse. But the bank continued to make headway on residential delinquency and reported record earnings at the corporate level.
Second-quarter residential fundings were $8.045 billion based on earnings data released Thursday.
Business fell from $8.250 billion in the first quarter. The decline is in contrast to reported increases at Bank of America Corp., JPMorgan Chase & Co., The PNC Financial Services Group Inc., U.S. Bancorp and Wells Fargo & Co.
But the good news is that BB&T managed to more than double its production from $3.888 billion in the second-quarter 2011.
The mortgage servicing portfolio finished last month at $97.560 billion, expanding from $94.626 billion at the end of March and $86.828 billion at the same point last year. The June 30, 2012, number included $71.389 billion in loans serviced for others, up from $70.318 billion three months earlier.
BB&T was recognized as the mortgage servicer with the highest level of customer satisfaction in the J.D. Power and Associates 2012 U.S. Primary Mortgage Servicer Satisfaction Study released Thursday.
The Winston-Salem, N.C.-based firm owned $23.117 billion in residential mortgages, growing its holdings from $21.513 billion three months prior. The increase was more significant when compared to the $18.372 billion on the books as of the second quarter of last year.
Delinquency of at least 30 days on the held-for-investment portfolio was 3.30 percent, continuing to improve from 3.67 percent at the end of the prior quarter. The rate of late payments was 4.40 percent a year prior.
Commercial real estate loans on the balance sheet barely moved down to $10.457 billion from $10.543 billion at the end of March. CRE assets were trimmed from $11.134 billion as of June 30, 2011.
BB&T also owned $1.590 billion in residential acquisition-and-development-construction loans, off from $1.823 on the books as of the end of the first quarter and cut from $2.689 billion a year prior.
Residential mortgage banking net income before taxes declined to $111 million from $205 million but reversed a $103 million loss a year earlier.
During the three months ended June 30, company-wide income before taxes was $729 million, improving from $634 million in the prior period and $418 million in the same period during the prior year.
"We are excited to report the strongest net income for any quarter in our history," BB&T Chairman and Chief Executive Officer Kelly S. King said in the report.
As of the end of the second quarter, 32,998 people were employed by BB&T, growing from 31,185 at the end of the first quarter. A year prior, headcount was 31.617.
BB&T operated 1,774 branches, one more than as of March 31, 2012. |
BB&T profile
next story
back to current headlines
|
|
|
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.
|
|
|
|
|
