Chase Home Finance's quarterly and yearly production dropped.
Fourth quarter originations totaled $44.0 billion, falling from the prior quarter's $53.6 billion, parent JPMorgan Chase & Co. said in its financial supplemental report Wednesday. The latest fundings aren't far off the $44.4 billion reported in the fourth quarter 2004.
Full-year 2005 fundings amounted to $182.8 billion, JPMorgan said in the report. Volume in 2004 was higher, on a pro forma basis including Bank One operations, at $198.1 billion.
Retail loans represented about 43% of the fourth quarter's originations, wholesale loans 27% and the remainder came from correspondent loans and negotiated transactions, the supplemental report said.
Home equity originations represented $12.1 billion of the fourth quarter's volume.
The third-party servicing portfolio was reportedly $467.5 billion at the end of 2005. The delinquency rate of loans past due 30 days or more was 1.61%, the New York-based company said.
Earnings for the "retail financial services" business line was $803 million during the latest period, up from $656 million during the third quarter, JPMorgan reported.