$8.7 billion 1st quarter production
By MortgageDaily.com staff
4/19/2005

Volume rose to the highest level in almost a year at SunTrust Banks Inc.

The Atlanta-based lender's first quarter loan fundings totaled $8.7 billion, spokesman Jim Hines said in an e-mailed statement, improving from $7.9 billion in the previous quarter and from $6.5 billion a year earlier.

The company reported $6.6 of production was from "Loans Originated" and $2.1 billion was from "Loans Purchased."

SunTrust serviced 629,248 to end the period with a $83.6 billion portfolio, he said, a 7% increase from the fourth quarter.

Net income was $492.3 million during the quarter, SunTrust announced.

Article © MortgageDaily.com All Rights Reserved