Mortgage Daily Logo
mortgage news from industry experts

IndyMac Activity Up

IndyMac Activity Up

$6.9 billion 1st quarter production

April 29, 2004

By staff

Overall mortgage volume nudged up at IndyMac Bancorp Inc. — driven by a wave of refinances.

The Pasadena, Calif.-based bank reported that first quarter mortgage production totaled $6.9 billion, up from the previous quarter’s $6.3 billion. Last year at this time, volume was $6.5 billion.

The company said the quarterly uptick was driven by refinance activity — up 35% — during February’s declining interest-rate environment.

Alt-A loan originations comprised most of the latest volume as they rose to $4.6 billion, IndyMac said, while subprime fundings were $458 million. Meanwhile, home equity line of credit production reportedly edged down to $244 million.

The total servicing portfolio of $38.9 billion increased 6% from the fourth quarter, according to the report.

IndyMac announced first quarter net income totaled $41.9 million.

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...


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