| Company With Principals
Principal Residential reports Q3 production November 22, 2002 By MortgageDaily.com staff |
| Principal Financial Group, Inc.’s residential mortgage company announced a jump in mortgage loan production during the third quarter.
Principal Residential Mortgage, Inc. reported $11.1 billion in loan production, an almost 22% increase from second quarter’s $9.1 billion. The third quarter figure also represents a 5.7% increase from the $10.5 billion during the same time last year. As of Sept. 30, the company’s servicing portfolio is at $102 billion, up 41% from last year’s $72.3 billion. September’s figure also is up about 5.7% from June’s $96.5 billion. The mortgage banking subsidiary was key in its parent company’s overall increases during the quarter, said J. Barry Griswell, CEO of Principal Financial Group. Principal Financial Group’s shares were down $0.15 at $30.20 near midday, according to CBS.MarketWatch.com. |
