4th quarter production $9.9 billion
By MortgageDaily.com staff
1/22/2003

GreenPoint Financial Corp. ended 2002 with record origination of exclusively "A" quality loans, the lender said.

The New York City-based company produced $33.1 billion in "A" loans by the end of the year, a 26% increase over the almost $26.3 billion produced in 2001.

GreenPoint's record achievement was "supported by low interest rates" and "by continuing to open new branches and increasing market penetration in our existing branches, all supported by our investments in technology," CEO Thomas S. Johnson said.

The company reported finishing the fourth quarter with almost $9.9 billion in total mortgage originations, up from the $9.7 billion produced during the third quarter. The fourth quarter total is an almost 18% increase from the $8.4 billion originated during the same time in 2001.

Specialty loan originations came in at $10.6 billion during 2002, down from the $11.5 billion during 2001. Due to record refinance activity, agency/jumbo loan production increased to $20.1 billion during 2002, a 53% jump from the $13.1 billion produced during 2001, the company reported.

By the end of 2002, GreenPoint's pipeline was $7.9 billion, compared with $7.4 billion at the end of 2001.

GreenPoint also reported that the average FICO score of all loans originated during the year was 715.

At Wednesday near noon, its shares were trading at $44.30, down $1.48, according to CBSMarketwatch.com.

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