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Thrifts Saw Servicing Income Exceed the $1 Billion Mark Last Year.(Brief Article)(Statistical Data Included)
Thrift servicing fee income broke through the $1 billion mark in the fourth quarter, according to the Office of Thrift Supervision.
The thrift industry also posted strong earnings for the year.
Servicing fee income rose 9.2% from $948.1 million in 1999 to $1.05 billion in 2000. In the fourth quarter, servicing fee income totaled $255 million, down from $265.7 million in the third quarter.
Meanwhile, thrift originations of single-family loans totaled $201 billion last year, the third best year ever.
"In the declining interest rate environment that we are seeing, the industry is well poised to take advantage of the next refinancing boom. That should translate into higher loan growth and fee income," OTS director Ellen Seidman said last week.
OTS also reported that loan sales jumped from $39.4 billion in the third quarter to $49.2 billion in the fourth quarter.
Thrift earnings rose slightly in the fourth quarter to $1.91 billion from $1.84 billion in ...
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Source: HighBeam Research, Thrifts Saw Servicing Income Exceed the $1 Billion Mark Last...