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.


Quarterly Performance Improves at BB&T

$5.0 billion in Q2 production

July 22, 2010

By MortgageDaily.com staff


Mortgage production moved higher and earnings improved from the first quarter at Branch Banking and Trust Co. -- though performance was not as impressive when compared to last year. The company's chief said the secondary market for problem assets improved.

BB&T originated $5.0 billion in residential loans during the second quarter, edging up from $4.8 billion in the prior quarter, earnings data released today indicated. Second-quarter 2009 originations were $8.5 billion.

The residential servicing portfolio stood at $77.9 billion at the end of the second quarter, higher than $75.9 billion at the end of the prior period and $66.5 billion a year ago. The June 30 figure included $18.6 billion in bank-owned mortgages and $59.3 billion in third-party servicing.

The Winston-Salem, N.C.-based firm reported mortgage assets of $15.5 billion as of June 30, about the same as March 31 holdings and less than $15.6 billion owned on June 30, 2009. The most recent number included $12.2 billion in prime mortgages, $2.3 billion in Alt-A loans and $0.5 billion in subprime holdings.

In addition, the company owned $5.8 billion in home-equity loans, edging down from $5.9 billion on March 31, and $5.6 billion in home-equity lines-of-credit, unchanged from March's end.

Excluding loans guaranteed by Ginnie Mae and including non-mortgage loans, delinquency of at least 30 days rose to 3.69 percent from 3.53 percent three months earlier and 2.03 percent one year earlier.

Residential acquisition, development and construction loans on the company's balance sheet finished last month at $4.8 billion, falling from $5.3 billion at the end of March.

Other commercial real estate loans owned were $12.5 billion, unchanged from the first quarter.

Chief Executive Officer Kelly S. King noted in the report that BB&T unloaded $682 million in problem assets during the quarter.

"We successfully implemented a strategy to accelerate our disposition of problem assets," King said. "Early in the second quarter, we reached an inflection point and have seen more bidders and more acceptable valuations for problem assets."

Mortgage-related revenues soared 95 percent from the first quarter to $110 million -- though revenues were 40 percent less than the second-quarter 2009. The linked-quarter improvement was the result of lower rates and higher refinance volume.

BB&T said company-wide income before taxes edged up to $249 million from the first quarter's $242 million and was unchanged from 12 months earlier.

Headcount at the company was 31,603 at the end of last month, lower than 31,929 three months earlier. Headcount was higher, however, than 28,763 on June 30, 2009.

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.


Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.



Refinance News | Refinance Share Statistics
News about refinancing programs, pricing and production. Stories about the H o m e
Affordable Refinance Program, H A R P 2.0 and other Making Home Affordable coverage.


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