On a quarter-over-quarter basis, Regions Financial Corp.’s mortgage lending business saw lower originations, less income and higher delinquency.
Fourth-quarter earnings data released Tuesday indicate that Regions originated $1.238 billion during the three months ended last month.
For all of last year, home loan originations amounted to $6.584 billion, not as much as the $8.0 billion closed in all of 2012.
Regions didn’t say what its servicing portfolio was in the latest report, but its third-quarter 10Q filing with the Securities and Exchange Commission indicated that it serviced $28.234 billion for third parties as of Sept. 30, 2013.
The Birmingham, Ala.-based company owned $23.457 billion in residential assets. The residential investment portfolio was reduced from $24.205 billion three months earlier and $24.763 billion 12 months earlier.
The Dec. 31, 2013, total included $12.163 billion in residential first liens, $5.998 billion in first-lien home-equity loans and $5.296 billion in second lien HELs.
Delinquency of at least 30 days on the non-guaranteed portion of residential first liens worsened to 2.79 percent from 2.60 percent at the end of the third quarter. The 30-day rate improved, however, from 3.46 percent at the end of 2012.
HEL delinquency rose to 1.96 percent from 1.79 percent but was lower than 2.04 percent as of Dec. 31, 2012.
Commercial-real estate assets finished 2013 at $16.555 billion, off from $16.873 billion as of Oct. 31 and $18.119 billion as of Dec. 31, 2012.
Last month’s total included $9.495 billion in owner-occupied CRE loans, $5.318 billion in investor CRE loans and $1.742 billion in CRE construction loans.
On the owner-occupied portion of the CRE loan portfolio, delinquency was down 1 basis point from September to 0.65 percent. CRE delinquency was 17 BPS better than one year earlier.
Investor CRE loan delinquency plummeted to 0.76 percent from 2.38 percent as of Oct. 31 and 1.34 percent as of Dec. 31, 2012.
Mortgage income dropped to $43 million from $52 million and was down by more than half from $90 million in the four-quarter 2012.
Company-wide income from continuing operations before income taxes fell to $333 million from the third quarter’s $417 million. Earnings also deteriorated from $415 million a year earlier.
Regions closed out last year with a staff of 24,255 employees, growing headcount from 24,068 at the end of September and 23,427 people at the end of 2012.
Regions operated 1,705 branches as of last month, one less than at the close of the third quarter.