OAKLAND, Calif. - Second-quarter loan originations at Golden West Financial Corp., the parent of World Savings Bank, rose 98% over the same period a year ago, to $5.7 billion.
Originations for the first six months of the year increased 91%, to $9.4 billion. The thrift's second-quarter earnings went up 9%, to $133 million. Its earnings per share rose 17%, to 84 cents.
Marion O. Sandler, Golden West's chairman and chief executive, explained the strong volume performance in a soft originations market: "Adjustable-rate mortgages were the loan of choice for a very large number of borrowers during the first half of 2000. As a company specializing in ARMs, we of course benefited."