Home loan originations improved at EverBank Financial Corp., and the upward momentum is likely to continue in the second quarter.
Servicing and income, however, were off.
From Jan. 1 to March 31, residential loan originations reached $2.344 billion, according to first-quarter earnings information.
Mortgage production was higher than the $2.155 billion in home loans closed last year from Oct. 1 to Dec. 31.
Recent home lending activity also jumped ahead of the $1.701 billion funded during the same period in 2014. This amount was adjusted from the $1.697 billion originally reported.
This forward momentum is likely to continue in the current quarter based on $1.7 billion in new applications, which was better than $1.3 billion from the fourth-quarter last year.
Interest rate locks also improved to $1.6 billion from $1.3 billion in the prior period.
Jumbo mortgages accounted for $1.301 billion of first-quarter new mortgage activity, while conventional loans contributed $1.044 billion.
By division, retail originators closed $1.301 billion. The consumer-direct channel produced $0.441 billion, and correspondent acquisitions contributed $0.623 to the recent total.
As of March 31, the Jacksonville, Florida-based lender serviced $50.482 billion in loans for others.
The mortgage servicing portfolio was just under the $50.746 billion as of Dec. 31, 2014, and far from the $60.678 billion listed as of March 31, 2014.
Approximately $9.950 billion in residential assets were on the balance sheet at the end of the first-quarter, down from $10.077 at the end of the fourth-quarter last year. Still, the category finished ahead of the $7.747 billion accounted for at the end of March, a year prior.
The latest total included $9.779 billion in residential loans and $0.171 billion in home-equity lines of credit.
For commercial lending, commercial and commercial real estate originations of $0.480 billion were just short of last year’s fourth-quarter volume of $0.484 billion but blasted ahead of 2014’s revised first-quarter originations of $0.158 billion.
CRE assets amounted to $5.654 billion as of the end of March. EverBank improved its commercial assets over the $4.884 billion in holdings as of Dec. 31, 2014 and $4.155 billion at the same point a year earlier.
The recent CRE owned-loan total included $3.551 billion in commercial mortgages and $2.103 billion in warehouse assets.
Across the entire company, income prior to income taxes dropped to $23 million from $61 million in the prior quarter. Income also was down from $51 million in the same quarter in 2014.
