Quarterly production rose more than 20% to the highest level in a year for Bank of America Corp.
Second quarter fundings of $21.1 billion jumped from $17.5 billion in the prior three-month period, the Charlotte, N.C.-based stated in its latest supplemental information report, but didn't match the $28.5 billion originated a year ago.
Retail originations reportedly represented about 72% of the latest volume, while wholesale accounted for the remainder.
The company's mortgage servicing portfolio ended the second quarter at $280.1 billion, BoA said, which is about $5 billion more than the first quarter.
Although the banking behemoth's net income fell 7% during the second quarter to $4.3 billion, it was 12% higher than a year earlier, the report said.
BoA said that it is near completion of integrating FleetBoston Financial Corp. into its operations and is looking ahead to the MBNA Corp. acquisition expected to close next quarter.