Magazine article Mortgage Banking

American Home Mortgage Reports Record Volumes. (Business Alert)

Magazine article Mortgage Banking

American Home Mortgage Reports Record Volumes. (Business Alert)

Article excerpt

AMERICAN HOME MORTGAGE HOLDINGS Inc., New York, reported record earnings, earnings per share, revenue and loan production for fourth-quarter 2001. In addition, the company reported record results in those categories for its fiscal year ended Dec. 31, 2001. Fully diluted earnings per share for fourth-quarter 2001 was $0.77, an increase of 285.0 percent over $0.20 for fourth-quarter 2000. For the year ended Dec. 31, 2001, fully diluted earnings per share before the cumulative effect of change in accounting principle was $2.14, an increase of 239.7 percent over $0.63 for 2000. Total revenue in the fourth quarter rose to $41.7 million, an increase of 104.7 percent over $20.4 million for the same period in 2000. For the year, revenue totaled $128.1 million, an increase of 119.7 percent over $58.3 million for the same period in 2000.

Total loan closings in fourth-quarter 2001 rose to $2. …

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