GreenPoint Reports Higher Earnings

GreenPoint Financial Corp., New York, has reported net income from continuing operations of $498 million ($5.53 per share) for 2002, compared with $410 million ($4.50 per share) in 2001.For the fourth quarter, the company reported record net income from continuing operations of $1.46 per share, up 14% from that of a year earlier. Originations of "A" quality mortgage loans totaled a record $33.1 billion in 2002, up 26% from $26.3 billion in 2001. Thomas S. Johnson, GreenPoint's chairman and chief executive officer, said the company achieved the record mortgage production "by continuing to open new branches and increasing market penetration in our existing branches, all supported by our investments in technology. In addition, the credit quality of our held-for-investment mortgage portfolio remained very strong." The company's website address is http://www.greenpoint.com.