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| SunTrust Bank Inc.’s quarterly production slipped, but annual fundings painted another picture.
With $13.2 billion in mortgages closed in the last quarter of 2005, the Atlanta-based bank did not sustain the record $14.6 billion set in the third quarter, according to figures e-mailed by SunTrust spokesman Jim Hines. The latest total, however, is much better than $7.9 billion in the fourth quarter 2004. In all of 2005, production totaled $47.7 billion, soaring above the prior year’s fundings of $30.2 billion. The servicing portfolio ended the year at $105.6 billion with 733,657 loans, Hines said. SunTrust announced net income of $513.8 million rose about $3.0 million from the third quarter. |
Coco Salazar is an assistant editor and staff writer for MortgageDaily.com. e-mail: [email protected]
