Quarterly mortgage loan production surged again at IndyMac Bancorp Inc. -- maintaining a string of record quarters.
The Alt-A giant reported record second quarter residential production of $14.2 billion -- soaring 22% from the prior quarter and 51% from the same period in 2004.
The latest quarter represents the fifth consecutive quarter of record production, according to the announcement.
IndyMac said its market share nudged up to 1.9% from 1.2% a year ago.
"We continue to make significant progress on our strategic goal of profitably becoming a top eight originator by 2008," commented Chairman and CEO Michael W. Perry.
The Pasadena, Calif.-based mortgage banker ranked ninth in production during the first quarter out of all primary residential lenders covered by MortgageDaily.com.
The "hybrid thrift/mortgage banking" company expects to report quarterly earnings of $1.10 per share, Perry added. The net interest margin on loans IndyMac intends to sell "felt additional pressure this quarter as a result of the continuing flattening of the yield curve."