$7.1 billion 1st quarter production
By MortgageDaily.com staff
4/12/2005

Flagstar Bancorp reported quarterly loan production yesterday, and it wasn't good.

First quarter production for the Troy, Mich.-based mortgage banker was $7.1 billion -- off 18% from the prior quarter and down 25% from the same period last year, the announcement said.

Production for Flagstar, which says it operates 100 Michigan and Indiana banking centers and a national network of loan origination offices, had reached $17.5 billion during the second quarter of 2003, but has been on a steady decline since.

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