Mortgage Daily

Published On: May 1, 2003

IndyMac Production Steady

$6.6 billion 1st quarter production

May 1, 2003

By MortgageDaily.com staff

Another mortgage banking entity reported first quarter production.

IndyMac Bancorp, Inc., the holding company for IndyMac Bank, reported loan production (including construction originations) totaled $6.6 billion for the quarter, soaring 57 percent over first quarter 2002’s $4.2 billion, according to the report. Numbers remained steady compared to fourth quarter 2002.

The loans in process pipeline held $6 billion at the end of the quarter, up more than 100 percent over first quarter 2002 and up 28 percent from 2002 year end.

The company’s report stated that available loan production was 95 percent sold, compared to 117 percent in first quarter 2002.

The loan servicing portfolio totaled $31 billion for the quarter, up 25 percent from first quarter 2002’s $25 billion and up about 6% from the $29 billion performance for fourth quarter 2002, the statement said.

The Pasadena, Calif.-based bank reported $28 billion in loans serviced for others.

California residential real estate accounts for 52 percent of IndyMac’s outstanding loan volume and 44 percent of the total number of loans, the statement said.

The company also reported $4.9 billion in Web-based mortgage production and $328 million Web direct business-to-consumer loans.

IndyMac reported $36.9 million in earnings, 66 cents a share. The company announced an upcoming 10 cents dividend per share.

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