Quarterly home lending was much slower at Hilltop Holdings Inc. Also tumbling was the size of the financial institution’s mortgage servicing portfolio.
Prior to income taxes, Hilltop generated $41 million in income during the period from Jan. 1, 2017, to March 31. Earnings were little changed from $43 million a year earlier.
The Dallas-based bank-holding company presented the numbers, along with other financial and operational results, in its first-quarter 2016 earnings report.
A big drop, however, was recorded versus the final-three months of last year, when income was $53 million.
Pre-tax mortgage origination income was $10 million, up from $9 million a year earlier.
Residential loan originations during the three months ended March 31, 2017, came to $2.824 billion. Business sank from $3.888 billion in the fourth-quarter 2016 and was off from $2.929 billion in the first-quarter 2016.
Refinance share was slashed to 19.7 percent from
28.7 percent in the final quarter of last year.
Hilltop reported a third-party mortgage servicing portfolio of $3.790 billion as of March 31, 2017. The balance was slashed from $5.481 billion three months earlier and $5.004 billion a year earlier.
Residential assets were bumped up to $0.958 billion last month from a previously reported $0.949 billion at the end of 2016.
Commercial real estate assets increased to $2.895 billion
from a previously reported $2.735 billion as of Dec. 31, 2016.
Hilltop employed around 5,400 people as of the end of last month,
the same as at the end of last year and a hundred more employees than at the same point last year.
Bank locations closed out the most-recent period at 460,
an increase of 10 over year-end 2016.