Mortgage Daily

Published On: May 12, 2009
Production Triples at Community BanksICBA reports $7.2 billion Q1 volume

May 12, 2009

By MortgageDaily.com staff

Residential originations at a secondary mortgage company that caters to community banks have tripled over the past year.ICBA Mortgage reported today first-quarter production of nearly 45,000 loans for $7.2 billion. Volume almost tripled compared to the first-quarter 2008.

“These numbers are a dramatic indication that community bankers are regaining lost market share in the residential mortgage arena,” ICBA President and Chief Executive Officer Dave Petro said in the report.

One-in-five mortgages funded during the first quarter by the Washington, D.C.-based company were for a home purchase. Only 2 percent of business was not fixed-rated.

ICBA is the mortgage services subsidiary of the Independent Community Bankers of America. It provides access to the secondary mortgage markets for community banks. Its alliances include programs from Fannie Mae, Freddie Mac and Taylor Bean & Whitaker.

ICBA said 40 percent of first-quarter originations sold through Taylor Bean were FHA, up from 10 percent a year earlier.

next story

back to current headlines

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Date with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN