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Thrifts Claim Higher Share.(Savings and loan associations)(Brief article)
WASHINGTON -- Despite a 13% drop in single-family originations, thrift institutions enjoyed near-record profits in the first quarter and their share of the mortgage market increased to 26%, up two percentage points from the fourth quarter.
The Office of Thrift Supervision reported that thrifts originated $142.6 billion in single-family loans in the first quarter, down from $163.9 billion in the fourth quarter and $141.5 billion in the first quarter of 2005.
Adjustable-rate mortgages comprised 44% of thrift originations in the first quarter, compared to 50% in the previous quarter. Refinancings accounted for 35% of originations, up from 34% in the fourth quarter. ...
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