WBS » Topics » Consumer Banking

This excerpt taken from the WBS 10-Q filed Aug 8, 2007.

Consumer Banking

Residential Mortgage and Mortgage Banking

For the six months ended June 30, 2007, residential mortgage loan originations totaled $1.7 billion, compared to $1.1 billion for the comparable period in 2006. A majority of this originated loan volume, including servicing, is sold in the secondary market. At June 30, 2007 and December 31, 2006, there were $372.8 million and $353.4 million, respectively, of residential mortgage loans held for sale in the secondary market. See Note 4 of Notes to Consolidated Interim Financial Statements within this report for further information.

The residential mortgage loan portfolio totaled $3.7 billion, $4.4 billion and $4.9 billion as of June 30, 2007, December 31, 2006 and June 30, 2006, respectively. At June 30, 2007, approximately $951 million, or 25%, of the portfolio consisted of adjustable rate loans. Adjustable rate mortgage loans are offered at initial interest rates discounted from the fully-indexed rate. At June 30, 2007, approximately $2.8 billion, or 75% of the total residential mortgage loan portfolio, consisted of fixed rate loans.

 

38


Table of Contents

Consumer Finance

Consumer finance includes home equity loans and lines of credit and other consumer loans. At June 30, 2007, total consumer loans totaled $3.2 billion, an increase of $2.5 million ($9.1 million of the increase was in home equity loans offset by a decrease of $5.0 million in home equity lines of credit and $1.6 million in other consumer loans) compared to December 31, 2006 and an increase of $354.9 million ($339.4 million of the increase was in home equity loans, $15.3 million in home equity lines of credit and $0.2 million in other consumer loans) compared to June 30, 2006. At June 30, 2007, 18.5% of the total home equity loans and lines of credit were in a first position and 81.5% were in a second position status. Additionally, 80% of the total home equity loans and lines were geographically located with in the Northeastern United States and the other 20% were spread throughout the remaining United States with no individual state having a significant percentage.

This excerpt taken from the WBS 10-Q filed May 4, 2007.

Consumer Banking

Residential Mortgage and Mortgage Banking

For the three months ended March 31, 2007, residential mortgage loan originations totaled $921.4 million, compared to $616.1 million for the comparable period in 2006. A majority of this originated loan volume, including servicing, is sold in the secondary market. At March 31, 2007 and December 31, 2006, there were $454.7 million and $353.4 million, respectively, of residential mortgage loans held for sale in the secondary market. See Note 4 of Notes to Consolidated Interim Financial Statements within this report for further information.

The residential mortgage loan portfolio totaled $3.7 billion, $4.4 billion and $4.9 billion as of March 31, 2007, December 31, 2006 and March 31, 2006, respectively. At March 31, 2007, approximately $997 million, or 27%, of the portfolio consisted of adjustable rate loans. Adjustable rate mortgage loans are offered at initial interest rates discounted from the fully-indexed rate. At March 31, 2007, approximately $2.7 billion, or 73% of the total residential mortgage loan portfolio, consisted of fixed rate loans.

Consumer Finance

Consumer finance includes home equity loans and lines of credit and other consumer loans. At March 31, 2007, total consumer loans totaled $3.2 billion, a decrease of $25.2 million ($35.2 million of the decrease was in home equity lines of credit, $2.1 million in other consumer loans offset by an increase of $12.1 million in home equity loans) compared to December 31, 2006 and an increase of $373.0 million ($377.6 million of the increase was in home equity loans offset by a decrease of $4.5 million in home equity lines of credit and $0.1 million in other consumer loans) compared to March 31, 2006.

EXCERPTS ON THIS PAGE:

10-Q
Aug 8, 2007
10-Q
May 4, 2007

"Consumer Banking" elsewhere:

Trustmark (TRMK)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki