Mortgage Daily Logo

BB&T Reports Record Mortgage Production

Mortgage News

Business was better at Branch Banking and Trust, which reported more mortgage originations than during any other quarter in its history. Earnings also improved, while its servicing portfolio climbed past $100 billion. But home-loan delinquency moved up from the third quarter.

BB&T Corp. reported in its earnings report that it originated $8.570 billion in residential loans during the fourth-quarter 2012. It was the best quarter ever for the 138-year-old bank.

Retail originations accounted for $3.5 billion of the activity, while correspondent production was $5.1 billion. Refinance share was 63 percent.

Business was stronger than the third quarter, when overall production totaled $8.234 billion. During the same three months in 2011, BB&T originated $8.424 billion.

Full-year 2012 fundings totaled $33.099 billion, better than the $23.7 billion originated in 2011.

The Winston-Salem, N.C.-based company serviced $101.270 billion in residential loans, increasing its servicing portfolio from $99.537 billion as of Sept. 30 and $91.640 billion as of Dec. 31, 2011. The most recent figure reflected $73.769 billion in loans serviced for others.

The bank owned $24.272 billion in residential loans as of year-end 2012, not much different than $24.293 billion owned as of Sept. 30. Residential holdings, however, have climbed from $20.581 billion at the end of 2011.

Residential delinquency of at least 30 days was 3.54 percent as of the end of last year, worsening from the third quarter’s 3.48 percent. But late payments fell from a year prior, when the rate was 4.33 percent.

Commercial real estate assets increased to $11.461 billion from $10.913 billion as of Sept. 30 and $10.689 billion as of Dec. 31, 2011.

In addition, $1.261 billion in residential acquisition-and-development loans were on the books, down from $1.454 billion three months earlier and $2.061 billion a year earlier.

Mortgage banking income before taxes climbed to $138 million from $133 million three months earlier and $59 million a year earlier.

BB&T earned $756 million company-wide before taxes, more than the $673 million earned in the previous quarter and the $484 million earned in the fourth-quarter 2011.

At the end last year, 33,981 full-time employees were on board, fewer than 34,006 at the end of September but more than 31,774 at the end of 2011.

BB&T reported that it finished 2012 with 1,832 banking offices, down from 1,851 the prior quarter.

Related Posts

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

There is No Such Thing as a Free House …

Over the past several years, those who service loans in the State of Washington(1) have seen a dramatic rise in the number of lawsuits in which delinquent borrowers seek to quiet title to their homes on the grounds that lenders are barred from foreclosing based on...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Mortgage Servicer Portfolios

servicing news | mortgages outstanding statistics | foreclosure news   Servicing Portfolios as of 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 Residential Servicing Portfolios by Servicer Last Updated December 14, 2018...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC filings | execs | m&a | production   Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move --...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Freddie Mac Profile

Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move -- which is likely to push mortgage rates lower and provide a sense of stability for the more than 10,000 employees at both companies -- is a...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam