National City Corp. (NYSE: NCC) has issued a mid-quarter update indicating that its business trends remain positive overall. National City said commercial loan activity, while more robust than over the course of 2003, is still mixed across the corporation's markets, as many middle market customers remain cautious and competition intensifies. Credit quality remains sound across the board.
Conventional residential mortgage activity has been somewhat better than expected, owing to a decline in mortgage rates relative to the second quarter. Non-prime mortgage production at its First Franklin unit is down slightly from the record levels of the second quarter. Home equity volumes continue to be very strong.
Subscribe to:
Post Comments (Atom)
:.
0 comments:
Post a Comment