| GreenPoint Activity Down
$8.7 billion 1st quarter production April 23, 2004 By MortgageDaily.com staff |
| Mortgage production fell quarterly and year-over-year for GreenPoint Financial Corp.
The New York-headquartered company announced mortgage originations slipped to $8.2 billion in the first quarter from $8.7 billion in the previous quarter. In the same period last year, volume stood at $9.3 billion. Contributing to the quarter-to-quarter volume were Agency/Jumbo loan originations of $4.6 billion and Specialty loans of $2.8 billion. Home Equity/Second loans were the only type of originations that increased — 9% to $874 million, GreenPoint said. Loans sold in the secondary market were $7.1 billion, the announcement said. The average FICO score of GreenPoint’s on-balance sheet loan portfolio was reported at 715, and the average loan-to-value was 63%. The company also reported first quarter earnings totaled $112.6 million. GreenPoint recently agreed to be acquired by North Fork Bancorporation. |
