While the mortgage industry as a whole suffered a drop in quarterly originations, several mortgage bankers, including a commercial mortgage originator, reported improved production.
An analysis of second-quarter residential originations by MortgageDaily.com indicates that U.S. originators saw volume decline around 19 percent from the first quarter. Compared to the second-quarter 2010, aggregate volume was down 20 percent.
But a few lenders — including MetLife Inc., Ally Financial Inc. and Quicken Loans Inc. — reported an uptick in business from the first quarter.
Provident Funding Associates LP previously reported in a Securities and Exchange filing that first-quarter production plunged nearly two thirds from the prior quarter to $3.3 billion. But the Burlingame, Calif.-based lender has recovered some of the lost business.
Provident, which has not yet made an SEC filing for its second-quarter results, closed $5.33 billion from April through June, better than $4.50 billion in the second-quarter 2010, according to data reported by Inside Mortgage Finance.
Mortgage originations totaled $1.927 billion in the second quarter at PrimeLending-parent PlainsCapital Corp., earnings data indicate. The level of lending was lifted from $1.5 billion three months earlier. Fundings have also expanded from the second-quarter 2010, when production was $1.787 billion.
“We do not expect our mortgage loan origination volume in 2011 to reach the levels we achieved in 2010, although we expect our share of the national market in 2011 to increase compared to our market share in 2010,” the report stated.
Quarterly volume was up by nearly half at Fairway Independent Mortgage Corp., which reported approximately $0.776 billion in second-quarter originations. Business during the prior quarter at the Sun Prairie, Wis.-based mortgage banker was 2,948 loans for $584 million.
Fairway, which said in April that it has 117 locations, reports that it currently operates 90 branches.
Astoria Financial Corp. reported $0.636 billion in residential production, edging down from approximately $0.664 billion in the first three months of 2011. A year earlier, production came in at $0.759 billion.
Astoria owned $10.6 billion in one-to-four family loans, down from $10.9 billion at the end of last year. The third-party servicing portfolio has grown to $1.461 billion from $1.413 billion a year ago.
At Wintrust, second-quarter 2011 production was reported at $0.459 billion, falling from around $0.541 billion in the first quarter of the year. Volume was in the neighborhood of $0.668 billion in the second quarter of 2010.
Loans originated for sale slipped to $0.251 billion at AssociatedBanc-Corp. from $0.290 billion in the first quarter, earnings data indicate. The company closed $0.502 billion in the second-quarter 2010.
AssociatedBanc-Corp. reported a $7.367 billion in third-party servicing, up from $7.453 billion six months earlier. The company said it owned $2.594 billion in home-equity loans, increasing from $2.523 at Dec, 31, 2010. Residential holdings rose to $2.692 billion from $2.346 billion during the same time span.
Second-quarter originations for all lenders came in around $115 million for the region that includes the Florida counties of Orange, Seminole, Volusia, Osceola and Lake, according to the FBC Central Florida Mortgage Report. Production improved from roughly $105 million in the first quarter but fell short of the more than $120 million closed in the same period last year.
In the commercial mortgage sector, HFF Inc. reported $9.885 billion in total transaction volume. The number of closed units was 324.
HFF’s business leapt from the first quarter’s 183 transactions for $5.380 billion. A year earlier, the total was 140 transactions for $5.336 billion.
HFF said that second-quarter business included $0.6 billion in loans sales. In addition, the company generated $6.5 billion in debt placement, $2.6 billion in investment sales and $0.3 billion in structured finance activity.
Monthly business tumbled at Cambridge Realty Capital Co. The senior housing and healthcare lender reported 28 funding requests in June. Dollar volume amounted to $379 million.
New activity sank from 35 requests for $614 million during May — which was the strongest month since 2003 for loan origination requests. Cambridge boasted about the improvement from a year earlier, when the company received 19 requests for just $243 million.
