NatCity Mortgage Revises Funding #s Upward

National City Mortgage, Miamisburg, Ohio, has revised its residential production numbers upward for the first and second quarters, showing a less severe decline in originations than had previously been reported to National Mortgage News.The bank-owned mortgage lender said it funded $11.4 billion during the second quarter, a 26% decline from the level recorded a year earlier. In the first quarter it funded $9.9 billion, a 34% decline from that of a year earlier. Previously, it had reported to NMN and the Quarterly Data Report that production had fallen 77% ($3.5 billion in originations) in the second quarter, and 41% ($8.8 billion) in the first. When the figures were first reported to NMN, the newspaper called to verify them. At the time, the lender said the numbers were correct. NMN surveys more than 200 lenders each quarter, ranking the top 100 in the QDR, an affiliated publication. A spokesman for the mortgage company's parent, National City Corp., blamed the mistake on a reporting error. The mortgage lender can be found on the Web at http://www.nationalcitymortgage.com.