EverBank Financial Corp. steadily increased its originations of residential jumbo loans during 2013 and doubled its originations of commercial real estate mortgages.
The Jacksonville, Fla.-based banking company reported Wednesday that it originated $808 million in jumbo loans in the fourth quarter, up 43% from a year ago. Despite the qualified mortgage rule, EverBank continues to offer non-QM jumbos to its affluent customers.
Meanwhile, production of single-family conventional loans fell to $1.2 billion in the fourth quarter, down 50% from 4Q 2012. That reflected the drop in refinancings during the second half and EverBank's decision to exit the wholesale broker channel in the third quarter.
“Our gain-on-sale margin increased 120 basis points during the fourth quarter to 2.88% as we executed on our strategy to sell agency conforming originations and retain prime jumbo originations,” according to EverBank chairman and chief executive Robert Clements.
The CEO assured investors and analysts on Wednesday's conference call that EverBank remains on track to complete the sale of its default servicing platform to Green Tree Servicing LLC in the first quarter of 2014.
On the CRE side, the banking company originated $266 million in commercial mortgages in the fourth quarter, up from $132 million a year ago.