The MReport Webcast: Tuesday 5/5/2015

Financial conditions are improving in the Southern United States, according to a report released by the Office of the Comptroller of the Currency. The report, which details the performance of national banks and federal savings associations, showed that nine states in the OCC’s Southern District showed improvement in 2014. Those states included Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Oklahoma, Tennessee and Texas.

Of the 455 banks and FSAs in those states, 91 percent had a composite rating of one or two. These are the highest ratings an institution can get and indicate strong growth. From December 2013 to December 2014, loans by community national banks and FSAs in the Southern District rose by 8 percent. On a state-by-state basis, Texas saw the most growth, jumping 11 percent year over year. Louisiana saw a 9 percent jump, Florida an 8 percent one, and Arkansas fell just about 7 percent. Georgia and Oklahoma both saw 7 percent increases.

Lenders' share of mortgage purchase volume increased for the first time in 2015, jumping 5 percent, according to the latest Origination Insight Report released by Ellie Mae, a leading provider of on-demand software solutions and services for the residential mortgage industry. The report found that purchases represented 46 percent of lenders’ overall volume in March, compared to 53 percent in mortgage refinancing volume.