The parent of PrimeLending reported that mortgage originations improved last year despite a decline in quarterly production. Servicing also grew.
Residential loan originations at the Dallas-based firm dropped to $3.066 billion during the three months ended Dec. 31, 2015, from $3.639 billion closed in the prior three month period.
The details, along with other operational and financial metrics, were disclosed by Hilltop Holdings Inc. in its fourth-quarter 2015 earnings report.
But activity ascended from the final three months of 2014, when $2.713 billion was funded.
For all of last year, mortgage production amounted to $13.352 billion,
an improvement over the $10.364 billion originated during all of 2014.
Fourth-quarter 2015 refinance share was just 24 percent — far lower than most of the industry.
The company serviced $5.052 billion in home loans for others as of the end of last year. The mortgage servicing portfolio has grown from $3.645 billion at the end of 2014.
As of the end of 2015, there were $57 million in repurchase claims outstanding.
Mortgage origination income before taxes was $47 million last year, soaring from $12 million in 2014.
Prior to income taxes, the bank-holding company earned $33 million, sinking from the $73 million earned three months earlier and $54 million earned a year earlier.
PrimeLending employed around 2,800 people as of Dec. 31, 2015.
Company-wide staffing at Hilltop finished last year at 5,300 employees.
Branch count was around 400 as of Dec. 31, 2015.
