$18.4 billion 4th quarter production
By MortgageDaily.com staff
1/18/2005

Bank of America finished 2004 with higher quarterly fundings, but annual volume was off by over one-third.

The North Carolina-based bank reported fourth quarter originations of $18.4 billion, about 8% better than the previous quarter.

Retail originations accounted for 69% of the latest volume, while wholesale loans aggregated the rest, according to the bank's supplemental information report.

BoA's 2004 volume totaled $87.6 billion -- down from $131.1 billion in the previous year.

Loans serviced reportedly amounted to $259.1 billion at the year's end, up 5% from 2003.

BoA said growth in home equity mortgages led a rise in loans.

The bank announced net income for the full year increased 31 percent to $14.1 billion.

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