|IndyMac Activity Up
$6.9 billion 1st quarter production
April 29, 2004
By MortgageDaily.com staff
|Overall mortgage volume nudged up at IndyMac Bancorp Inc. — driven by a wave of refinances.
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.
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,...