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Mortgage News for Wednesday - January 22, 2003

More Mortgage News
• HomeBanc Mortgage closes $5.1 billion in 2002
• Bank nonperforming loans reach highest level in 10 years
Mortgage News
HomeBanc Mortgage closes $5.1 billion in 2002 - 2003-01-22
HomeBanc Mortgage Corp. ended 2002 with residential mortgage volume of $5.02 billion, up from $4.1 billion in loans in 2001.

HomeBanc's December volume hit $520.6 million, a record month for the company and 18 percent higher than its volume in December 2001. HomeBanc's previous record month was October, when the company closed $503.7 million.
Read the full story at Orlando Business Journal
 
Bank nonperforming loans reach highest level in 10 years - 2003-01-22
Nonperforming loans at the nation's 9,414 banks and thrifts hit $68.9 billion at Sept. 30, 2002, representing a 16.8 percent jump over the $58.9 billion in nonperforming loans reported one year prior, according to Weiss Ratings Inc.

Meanwhile, nonperforming residential mortgage loans climbed 13.4 percent to $13.8 billion during the same period.
Read the full story at Orlando Business Journal
 






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