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/
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.

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.


First Horizon Fundings, Earnings Improve

$7.5 billion Q1 originations

April 17, 2008

By MortgageDaily.com staff


First Horizon National Corp. pushed quarterly production and earnings higher. But delinquency deteriorated.

First-quarter residential volume was $7.5 billion, the company reported in its earnings data today. Originations rose from $6.3 billion in the prior quarter and a year earlier.

Government fundings accounted for 21 percent of first-quarter volume, while Alt-A represented 2 percent, the data indicated. The ratio of refinance activity was 64 percent,

The owned servicing portfolio ended the first quarter at $99 billion, with an average of 618,505 loans serviced. The portfolio fell from $103.7 billion at the end of December.

Delinquency of at least 90 days was 1.73 percent on March 31, climbing from 1.48 percent the prior quarter and 0.87 percent the prior year.

Residential mortgages on the balance sheet ended the quarter at $7.9 billion, while residential construction loans amounted to $1.8 billion, the Memphis, Tenn.-based company said. Real estate loans pledged against other collateralized borrowings were $0.7 billion.

First Horizon noted deterioration in the national construction and home-equity portfolios helped push net charge-offs to 181 basis points from 93 BPS during the fourth quarter and the ratio of allowance to total loans to 2.20 percent from 1.55 percent.

Commercial mortgages on the balance sheet were $3.9 billion at the end of the quarter. The figure included $1.3 billion in commercial mortgages and $2.6 billion in commercial construction loans.

Net income was an $8 million profit in the most recent quarter, improving from a $249 million loss during the fourth quarter. A year earlier, the company earned $71 million.

Mortgage banking pre-tax income was $51 million -- a big improvement from the $254 million loss reported for the segment in the prior period and $8 million loss a year earlier. The adoption of new accounting standards increased pre-tax mortgage earnings by $42 million.

The company reported 9,555 people employed full-time in 40 states as of March 31, down from 9,941 on Dec. 31 and 12,018 a year prior. Mortgage salespeople numbered 1,565 at the end of March, down from 1,696 three months earlier.

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.



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