twitter linkedin
facebook google+
Search:

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.

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

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
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.


Record BB&T Mortgage Originations

Q2 production increases 7%

July 19, 2012

By Mortgage Daily staff

When it comes to residential mortgage production, business has never been so good at BB&T Corp. It was the same story for quarterly earnings. In addition, the servicing portfolio grew larger and delinquency was lower.

Home loan fundings at the Winston-Salem, N.C.-based company were $9.260 billion during the second quarter, earnings data indicated.

It was the most volume for mortgage production in any quarter since BB&T was originally established as Branch and Hadley in 1872.

Originations improved form the first quarter, when BB&T closed $8.665 billion in residential loans.

Volume was also better than the same three-month period in 2012, when it came in at $8.045 billion.

From Jan. 1 through June 30, mortgage production totaled $17.925 billion.

BB&T reported that year-to-date correspondent production was up 14 percent from 2012, while second quarter volume was 24 percent better than the year-earlier period.

"Mandatory delivery expansion will partially offset slower originations," the report said.

The total mortgage servicing portfolio closed out the second quarter at $107.057 billion, growing from $103.792 billion at the end of the first quarter.

BB&T serviced $97.658 billion at the same point last year.

The most recent number reflected $80.846 billion in loans serviced for others and $26.211 billion in bank-owned loans serviced.

Residential loans on the balance sheet dipped to $23.795 billion from $23.954 billion but were up from $23.117 billion as of June 30, 2012.

Residential loans that were a least 30 days past due accounted for 3.13 of the held-for-investment portfolio. The delinquency rate was better than 3.60 percent in the last report and 3.30 percent in the year-earlier period.

Residential acquisition-and-development loan holdings fell to $1.058 billion from $1.175 billion and tumbled from $1.590 billion as of the same date in 2012.

The bank owned $11.440 billion in commercial real estate loans as of the end of last month. CRE holdings crept up from $11.425 billion at the end of March and grew from $10.457 billion a year earlier.

Foreclosed property expense was down $6 million to $12 million.

Second-quarter mortgage banking income prior to income taxes was $126 million, down from the $166 million earned in the prior period but better than the $113 million earned in the same period during the prior year.

"Non-interest expense increased $18 million primarily due to higher expense associated with mortgage repurchase reserves and higher salary and incentive costs," the report said.

Income before taxes at the bank-holding company grew to $797 million from $737 million three months earlier and $729 million a year earlier.

BB&T Chairman and Chief Executive Officer Kelly S. King called second quarter net income available to common shareholders the "strongest" ever.

BB&T employed 33,869 full-time employees as of last month. Staffing fell from 33,952 people at the end of March but has expanded from 32,998 employees as of June 30, 2012.

Banking offices in operation increased to 1,851 from 1,842 at the end of the first quarter.

BB&T profile

next story

back to current headlines


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


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.


Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.


Logout forgot
password?

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

MBS

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