twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to 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

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

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









site map
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.

BoA Surpasses $300 Billion in '09 Fundings

Q3 residential volume $98.4 billion

October 16, 2009

By staff

The bad news is that residential originations fell and residential late payments rose at Bank of America Corp. The good news is that home-equity loan delinquency moderated and commercial mortgage delinquency fell. In addition, the banking behemoth managed to exceed $300 billion in volume so far in 2009.

Third-quarter home loan production was $98.4 billion, the Charlotte, N.C.-based company reported today. Fundings fell from $114.3 billion in the previous quarter but climbed from $58.6 billion the same quarter in the previous year.

From Jan. 1 through Sept. 30, total originations were $301.9 billion.

Home-equity loans accounted for $2.7 billion of the latest quarterly activity, down from the second quarter's $3.7 billion and the third-quarter 2008's $7.0 billion.

Commercial mortgage fundings were $6.0 billion.

The mortgage servicing portfolio finished September at $2.1483 trillion, higher than $2.1119 trillion at the end of the second quarter. The portfolio stood at $2.0262 trillion 12 months prior. Included in the Sept. 30 figure were $1.726 trillion in loans serviced for others, compared to the prior quarter's $1.703 trillion.

Residential mortgage holdings were $238.9 billion on Sept. 30, down from $246.0 billion on June 30. Home-equity loans on the balance sheet fell to $152.0 billion from $155.1 billion, while discontinued real estate holdings declined to $15.5 billion from $17.5 billion.

Residential delinquency of at least 30 days shot up to 4.0 percent from the second quarter's 3.1 percent and 2.3 percent a year prior.

The bank noted that it plans to convert the mortgage servicing platform at Countrywide Home Loans during the current quarter.

HEL delinquency was 1.4 percent, up slightly from 1.3 percent in the first quarter and in the third-quarter 2008. The HEL rate had been as high as 1.8 percent in the fourth-quarter 2008.

Nonperforming home mortgage holdings rose to $19.5 billion from $17.6 billion three months earlier and $6.7 billion 12 months earlier.

California and Florida accounted for nearly 60 percent of losses -- though the two coastal states only accounted for 42 percent of the total portfolio.

Commercial mortgage holdings declined to $72.7 billion at the end of last month from $75.1 billion. Commercial delinquency of at least 90 days eased to 0.27 percent from the second quarter's 0.41 percent.

Mortgage banking income at the home loans and insurance group, which is run by Barbara Desoer, was $1.3 billion in the third quarter. Earnings, which include production and servicing income, were $2.5 billion in the previous quarter and $1.7 billion a year prior.

The overall corporation saw a first-quarter loss of $1.0 billion, souring from a $3.2 billion second-quarter profit. A year earlier, BoA earned $1.2 billion.

Company-wide, the latest period ended with 281,863 full-time equivalent employees, slipping from 282,408 at the end of the second quarter.

Bank of America 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.

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

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


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