Federally chartered thrifts originated $25.9 billion of single-family loans during the third quarter, up nearly 9% from 2Q, according to figures compiled by the Office of the Comptroller of the Currency.
However, taken as a whole, the industry originated about one-third of what was produced by the nation's top funder, Wells Fargo & Co.
Today there are just 707 thrifts left in existence. In the second quarter these companies funded $23.8 billion of home mortgages – with 636 thrifts reporting their results to the OCC.
On July 21, the Office of Thrift Supervision officially shut its doors as required by the Dodd-Frank Act. OCC inherited supervision of 642 federally chartered thrifts with 59 OTS-supervised state-chartered thrifts being transferred to the Federal Deposit Insurance Corp.
Starting in the first quarter of 2012, all thrifts will report their assets and liabilities on FDIC “call reports.” The OTS Thrift Financial Report will be eliminated.
OTS required all thrifts to report their mortgage originations on the TFR.
FDIC only collects single-family origination data from insured depositories that originate more than $10 million of residential loans in a given quarter or have $1 billion or more in assets.
In the third quarter, 809 commercial and savings banks reported one- to four-family originations of $123.3 billion. In 2Q the group funded $105.8 billion.
