1st quarter production $7.6 billion
By MortgageDaily.com staff
4/21/2005

Quarterly production maintained at First Horizon National Corp.

The Memphis, Tenn.-based company reported loan originations of $7.6 billion during the first quarter, off slightly from $7.8 billion reported in the prior quarter. A year ago, volume was $6.9 billion.

Refinances accounted for nearly half of first quarter fundings, according to the announcement, but the company emphasized that purchase volume was up 39% from the first quarter of last year.

The servicing portfolio was $88.0 billion at quarter's end, First Horizon said.

Parent company net earnings were $109.2 million for the first quarter, First Horizon reported, with pretax income from mortgage banking at $41.2 million.

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