Home lending picked up from the previous quarter and the year-previous period at PrimeLending. Mortgage income was strong for the bank-holding company.
Residential loan production for the three months that finished on June 30 totaled $4.150 billion.
was better than in the first quarter of this year, when originations totaled $2.929 billion.
Lending also grew from the second-quarter 2015, when $3.834 billion in home loans were closed.
Those were among the details in a Form 10-Q filing by parent Hilltop Holdings Inc. with the Securities and Exchange Commission for the second quarter 2016.
First-half mortgage production amounted to $7.080 billion.
Of second-quarter 2016 business, $2.593 billion was conventional, $1.035 billion was government and $0.349 billion was jumbo.
was 21.4 percent, thinning considerabley from 30 percent as of three months earlier and 24.0 percent twelve months earlier.
As of June 30, 2016, PrimeLending’s $1.5 billion warehouse line with Hilltop had $1.4 billion outstanding. The line was temporarily raised to $1.8 billion but will drop back down to $1.5 billion on Oct. 1.
Another $15 million was outstanding on a $20 million Wells Fargo Bank, N.A., line.
Mortgages serviced for others totaled $4.845 billion as of mid-2016, less than the $5.004 billion serviced as of the end of the first quarter. In the same quarter last year, the serivcing portoflio was $5.052 billion.
Income earned before taxes from mortgage originations was $28 million.
Mortgage income soared from just $9 million earned by the mortgage unit in the first-quarter 2016. It also improved from $21 million in the second-quarter 2015.
Dallas-based Hilltop said
it earned $50 million before income taxes across the entire organization, more than the $43 million that was earned during the first-three months of this year. Income also rose from the same period last year, whent the profit was $49 million.
There were 5,400 people on Hilltop’s payroll as of mid-2016. Staffing
expanded by 100 employees compared to three months earlier.
Branch count was 450, fifty more than as of March 31.