In Brief: Golden West Originations Up 98% for 2Q

July 19, 2000, 1:00 a.m. EDT 1 Min Read

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."

For reprint and licensing requests for this article, click here.

TRENDING

Payments

Bread Financial 'feverishly' preps for CFPB late-fee rule scenarios

Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.

By Kate Fitzgerald

42m ago
Artificial intelligence

Banks don't talk about the energy AI guzzles. Here's why they should.

Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.

By Penny Crosman

55m ago
Regulation and compliance

FDIC board debates, then withdraws asset manager control proposals

The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.

By Ebrima Santos Sanneh

2h ago

MORE FROM AMERICAN BANKER

Payments

Bread Financial 'feverishly' preps for CFPB late-fee rule scenarios

Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.

By Kate Fitzgerald

42m ago
Artificial intelligence

Banks don't talk about the energy AI guzzles. Here's why they should.

Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.

By Penny Crosman

55m ago
Regulation and compliance

FDIC board debates, then withdraws asset manager control proposals

The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.

By Ebrima Santos Sanneh

2h ago
Regulation and compliance

Why Texas has its own account with the Federal Reserve

The state's comptroller of public accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?

By Kyle Campbell

2h ago
Originations

Mortgage rates rise on weak economic news

Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.

By Brad Finkelstein

2h ago
Fraud

Mortgage fraud attempts surge by more than one-third

While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.

By Spencer Lee

5h ago