| Chase Ekes Out Production Gain
Servicing portfolio at $432 billion April 16, 2003 By MortgageDaily.com staff |
| Loan originations edged up slightly at Chase Home Finance.
Loan production was $62 billion during the first quarter, according to an announcement from parent company J.P. Morgan Chase & Co. First quarter activity was $1 billion better than the fourth quarter, and 88% better than the first quarter of last year. Retail, wholesale and correspondent originations were $41 billion for the New York financial powerhouse, and correspondent negotiated transactions made up the other $21 billion. Chase reported that its servicing portfolio ended the quarter at $432 billion, up from the prior quarter but down from the $436 billion reported at the end of the second quarter last year. The unit says it services 4 million customers. First quarter net income for the parent was reported at $1.4 billion. |
