Get Your Mortgage Rate Quote in Just 30 Seconds

Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below.

EverBank Home Lending Creeps Up, Servicing Down

A modest increased in quarterly residential loan originations was reported by EverBank Financial Corp. The company’s mortgage servicing portfolio diminished.

EverBank revealed in its third-quarter 2016 earnings report that it earned $59 million before the provision for income taxes during the three months ended Sept. 30.

Income at the Jacksonville, Florida-based financial institution soared from $35 million during the prior quarter. Earnings also improved from $47 million a year prior.

Mortgage originations during the most-recent three-month period came to $2.532 billion. Lending activity inched up from $2.406 billion in the second quarter and was also higher than $2.292 billion in the third-quarter 2015.

Year-to-date mortgage production totaled $6.734 billion.

Retail originations accounted for $1.782 billion of third-quarter 2016 production, while consumer-direct lending made up $0.483 billion, and correspondent acquisitions represented $0.266 billion.

Application volume rose to more than $1.7 billion during the latest three-month period from less than $1.6 billion in the second quarter, suggesting that fourth-quarter originations are continuing at a similar pace. In addition, rate locks were nudged up to nearly $1.7 billion from less than $1.6 billion.

EverBank serviced
$40.323 billion in loans as of Sept. 30, 2016. The servicing portfolio was trimmed from $40.475 billion three months earlier and reduced from $44.347 billion one year earlier.

There were $12.966 billion in residential assets on EverBank’s balance sheet as of the end of last month. The total increased from $12.439 billion as of June 30, 2016, and $11.649 billion as of Sept. 30, 2015.

The Sept. 30, 2016, total consisted of $11.793 billion in mortgages and $1.173 billion in home-equity lines of credit and other loans.

In its commercial real estate business, the origination of commercial and CRE loans was $0.444 billion as of the most-recent period. Commercial lending climbed from $0.358 billion the prior quarter but was off from $0.649 billion a year prior.

Year-to-date commercial production amounted to $1.167 billion.

CRE assets finished the latest period at $6.959 billion, increasing from $6.867 billion as of mid-2016 and $5.823 billion as of the same date last year.

Last month’s CRE holdings consisted of $3.882 billion in CRE and other commercial loans and $3.077 billion in mortgage warehouse finance.

Popular posts

7 Refinance Strategies
7 Refinance Strategies

Refinance to a lower interest rate: If interest rates have dropped since you took out your original mortgage, refinancing to a lower rate can help you save money on your monthly payments and reduce the overall cost of your loan. Refinance to a shorter loan term:...

7 Refinance Strategies
Is Refinancing With Your Present Lender Preferable?

Do Not Accept the First Refinancing Offer You Receive Homeowners should not accept the first refinancing rate provided to them. This is particularly important if you are applying with your existing lender. Some mortgage lenders have mechanisms in place that prioritize...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

Fannie Mae Profile

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC...