$8.7 billion 1st quarter production
By MortgageDaily.com staff
4/23/2004

Mortgage production fell quarterly and year-over-year for GreenPoint Financial Corp.

The New York-headquartered company announced mortgage originations slipped to $8.2 billion in the first quarter from $8.7 billion in the previous quarter. In the same period last year, volume stood at $9.3 billion.

Contributing to the quarter-to-quarter volume were Agency/Jumbo loan originations of $4.6 billion and Specialty loans of $2.8 billion.

Home Equity/Second loans were the only type of originations that increased -- 9% to $874 million, GreenPoint said.

Loans sold in the secondary market were $7.1 billion, the announcement said.

The average FICO score of GreenPoint's on-balance sheet loan portfolio was reported at 715, and the average loan-to-value was 63%.

The company also reported first quarter earnings totaled $112.6 million.

GreenPoint recently agreed to be acquired by North Fork Bancorporation.

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