$164.0 billion 4th quarter volume
By MortgageDaily.com staff
2/17/2006

Fourth quarter thrift production fell, but annual originations ascended.

In all of 2005, mortgage originations by thrifts totaled $744.1 billion, rising 8 percent above the prior year to account for the second highest volume ever, the Office of Thrift Supervision reported.

The annual upturn came even as fourth quarter one- to four-family mortgage originations of $164.0 billion dropped from the third quarter's $181.3 billion. In the comparable period a year earlier, volume was lower at $154.1 billion, according to the announcement.

Adjustable-rate mortgages accounted for about half of the quarter's fundings, the office said, while refinance loans represented 34 percent.

The regulator noted it is monitoring nontraditional mortgage loan products as these products have "gained popularity in a generally sound economic environment with rising real estate values, and have yet to be stressed through economic downturns."

For the fifth consecutive quarter, the savings & loan industry achieved record net income -- $4.34 billion -- which helped set an annual earnings record as well of $16.42 billion.

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