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PrimeLending Mortgage Servicing, Annual Lending Up

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The parent of PrimeLending reported that mortgage originations improved last year despite a decline in quarterly production. Servicing also grew.

Residential loan originations at the Dallas-based firm dropped to $3.066 billion during the three months ended Dec. 31, 2015, from $3.639 billion closed in the prior three month period.

The details, along with other operational and financial metrics, were disclosed by Hilltop Holdings Inc. in its fourth-quarter 2015 earnings report.

But activity ascended from the final three months of 2014, when $2.713 billion was funded.

For all of last year, mortgage production amounted to $13.352 billion,
an improvement over the $10.364 billion originated during all of 2014.

Fourth-quarter 2015 refinance share was just 24 percent — far lower than most of the industry.

The company serviced $5.052 billion in home loans for others as of the end of last year. The mortgage servicing portfolio has grown from $3.645 billion at the end of 2014.

As of the end of 2015, there were $57 million in repurchase claims outstanding.

Mortgage origination income before taxes was $47 million last year, soaring from $12 million in 2014.

Prior to income taxes, the bank-holding company earned $33 million, sinking from the $73 million earned three months earlier and $54 million earned a year earlier.

PrimeLending employed around 2,800 people as of Dec. 31, 2015.

Company-wide staffing at Hilltop finished last year at 5,300 employees.

Branch count was around 400 as of Dec. 31, 2015.

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