Hilltop’s Originations Up, Mortgage Earnings Down

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MORTGAGE EXPERT
7 · 30 · 18

Home lending volume accelerated at of Hilltop Holdings Inc., though mortgage earnings deteriorated. Servicing expanded, while staffing was down.

Hilltop Holdings Inc., the parent of PrimeLending, disclosed in its second-quarter earnings reported that it earned $45 million in income before income taxes.

Earnings deteriorated from a year earlier, when the total was $89 million. But income improved compared to three months earlier, when Hilltop earned $32 million.

Mortgage origination income came in at $13 million,
declining from $19 million in the second-quarter 2017. But mortgage income swung from a $3 first-quarter 2018 loss.

Residential loans originations, which are generated through PrimeLending, totaled 17,007 loans for $4.107 billion during the three months ended mid-year 2018 — soaring from 12,311 units for $2.960 billion three months earlier and up modestly from 17,594 mortgages for $4.058 billion one year earlier.

From Jan. 1, 2018, through June 30, Hilltop’s originations amounted to 29,318 loans for $7.067 billion.

Conventional loans made up 62 percent of the latest production, government transactions accounted for 24 percent, and jumbo represented 9 percent. Refinance share was 12.0 percent, sinking from 20.3 percent the prior period.

As of June 30, interest rate lock commitments stood at $1.4 billion.

Hilltop serviced $4.394 billion for third parties as of mid-2018, more than $3.761 billion as of a year prior.

There were 5,400 people on the payroll of Hilltop as of the end of last month. Headcount was down a hundred employees from mid-2017.

As of mid-year 2018, Hilltop operated 475 locations. There were 465 locations a year prior.

Mortgage Expert

Mortgage Daily Staff

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