Quarterly business was better at JPMorgan Chase & Co.
First quarter mortgage originations were $46.8 billion, according to earnings data released today. Fundings climbed from $43.9 billion during the fourth quarter and $39.9 billion a year earlier.
The latest numbers included $13.2 billion in correspondent production, $10.9 billion in retail fundings and wholesale volume of $10.0 billion, according to the New York-based financial services behemoth.
Home equity origination volume during the most recent quarter was $12.7 billion, down from $12.9 billion in the fourth quarter but up $1.0 billion from the first quarter 2006, according to the report.
The servicing portfolio continued to climb, ending the latest period at $546.1 billion, JPMorgan reported. Delinquency of at least 30 days on loans from Chase's regional banking operation was 1.93 percent, down from 2.02 percent the prior quarter.
Net income from mortgage banking was $136 million before taxes, more than double the prior quarter and a year earlier, the data indicate.