$4.2 billion 4th quarter production
By MortgageDaily.com staff
1/31/2006

Annual production defied a quarterly decrease at ECC Capital Corp.

The Irvine, Calif.-based lender said Monday it originated $4.2 billion mortgages in the fourth quarter, 5% less than the third quarter but 62% better than the comparable period in 2004.

For all of 2005, ECC said loan production totaled $14.0 billion -- 54% better than the prior year.

The real estate investment trust says it is primarily a nonconforming, nonprime lender.

Article © MortgageDaily.com All Rights Reserved