JPMorgan Chase & Co. improved loan originations 21% during the second quarter.
Originations by the mortgage-lending arm, Chase Home Finance, rose to $46.7 billion from the first quarter's $38.5 billion, the parent company announced Wednesday. However, the volume did not manage to surpass the $56.9 billion in the second quarter a year ago.
Retail loans represented the bulk of originations at $22.8 billion, wholesale fundings contributed $13.2 billion and correspondent loans added the remaining $10.7 billion, according to the earnings release financial supplement.
Nearly $16 billion of the volume consisted of home equity fundings, the report showed.
The New York-based lender said it servicing portfolio of $501.7 billion, which grew about $6 billion in the second quarter, had a 30+ delinquency rate of 1.17%.
Second quarter net income of $1.0 billion plummeted 56% from the first quarter, JPMorgan reported, noting that during the three-month period it incurred litigation and Bank One merger-related charges, among other things.