Resource Bancshares Mortgage Group, Inc. Reports March Production and Operating Statistics

Apr 11, 2001, 01:00 ET from Resource Bancshares Mortgage Group, Inc.

    COLUMBIA, S.C., April 11 /PRNewswire/ --
     Resource Bancshares Mortgage Group, Inc. (Nasdaq:   RBMG), announced today
 that its March 2001 production was $1,158 million, a 140% increase from the
 March 2000 production of $483 million.  The Company's agency-eligible mortgage
 loan pipeline was $2.0 billion at March 31, 2001, compared to $1.0 billion at
 March 31, 2000.
     At March 31, 2001, the Company's residential owned mortgage servicing
 portfolio was $8.0 billion compared to $7.7 billion at March 31, 2000, which
 represents an increase of 3.5%.  This servicing portfolio had a weighted
 average note rate of 7.49% at March 31, 2001, and the portfolio's delinquency
 rate, including bankruptcies and foreclosures, was 2.38%.
     Resource Bancshares Mortgage Group, Inc. is a financial services company
 primarily engaged in the business of mortgage banking.  Through its wholly
 owned subsidiaries, RBMG works with correspondent lenders and brokers to
 purchase, sell and service agency-eligible and subprime residential, single-
 family first mortgage loans and to purchase and sell servicing rights
 associated with agency-eligible loans.
 
                      Resource Bancshares Mortgage Group, Inc.
                              Selected Operating Data
                                  ($ in thousands)
                                    (Unaudited)
 
 
                             For the Month Ended or
                                       At            For the three months Ended
                             March 31,   March 31,   March 31,      March 31,
                                2001        2000        2001           2000
     Production:
 
     Correspondent          $  827,313    $317,324  $ 1,973,522    $   914,034
     Wholesale                 245,590      92,707      548,226        248,088
     Agency-Eligible         1,072,903     410,031    2,521,748      1,162,122
     Subprime                   76,217      62,412      188,996        152,484
     Leases                      8,401      10,481       24,984         24,246
     Total                  $1,157,521    $482,924  $ 2,735,728    $ 1,338,852
 
     Number of Working Days         22          23           62             63
     Average Production Per
      Working Day           $   52,615    $ 20,997  $    44,125    $    21,252
 
     Pipeline:
 
     Locked Mortgage Loan
      Pipeline              $1,330,979    $536,262  $        --    $        --
     Mortgage Application
      Pipeline                 653,384     414,910           --             --
     Total Agency-Eligible
      Pipeline              $1,984,363    $951,172  $        --    $        --
 
     Servicing Portfolios:
 
     RESIDENTIAL*
     Owned Servicing
      Portfolio             $7,980,429  $7,713,016           --             --
     Number of Loans            73,637      76,619           --             --
     Weighted Average Note
      Rate                        7.49%       7.54%          --             --
     Weighted Average
      Service Fee                 0.42%       0.44%          --             --
     Delinquency Percentage
      (30+ days)**                1.78%       1.90%          --             --
     Bankruptcy &
      Foreclosure                 0.60%       0.71%          --             --
 
     LEASING
     Managed Lease Servicing
      Portfolio***          $  196,348  $  172,115           --             --
     Weighted Average Net
      Yield for Managed
      Lease
       Servicing Portfolio       10.84%      10.63%          --             --
     Delinquencies
      (30+Days)-Managed
      Lease Servicing
       Portfolio                  2.62%       2.82%          --             --
 
     Servicing Transactions:
 
     Agency-Eligible
      Servicing Sold        $1,348,290   $ 972,856   $2,176,537     $1,128,536
 
 
           * Includes $241,090 and $174,595 of subprime loans as of March 31,
             2001 and March 31, 2000, respectively, being temporarily
             serviced until these loans are sold.
          ** Percentages do not include bankruptcy and foreclosure loans.
         *** Managed lease servicing portfolio consists of $193,882 and
             $161,576 of leases owned by the Company and $2,466 and $10,539 of
             leases serviced for investors as of March 31, 2001 and March 31,
             2000, respectively.
 
 
         The above data reflects current operating statistics and does not
         constitute all factors impacting the quarterly or annual financial
         results of the Company.  All statistics are unaudited.
 
 

SOURCE Resource Bancshares Mortgage Group, Inc.
    COLUMBIA, S.C., April 11 /PRNewswire/ --
     Resource Bancshares Mortgage Group, Inc. (Nasdaq:   RBMG), announced today
 that its March 2001 production was $1,158 million, a 140% increase from the
 March 2000 production of $483 million.  The Company's agency-eligible mortgage
 loan pipeline was $2.0 billion at March 31, 2001, compared to $1.0 billion at
 March 31, 2000.
     At March 31, 2001, the Company's residential owned mortgage servicing
 portfolio was $8.0 billion compared to $7.7 billion at March 31, 2000, which
 represents an increase of 3.5%.  This servicing portfolio had a weighted
 average note rate of 7.49% at March 31, 2001, and the portfolio's delinquency
 rate, including bankruptcies and foreclosures, was 2.38%.
     Resource Bancshares Mortgage Group, Inc. is a financial services company
 primarily engaged in the business of mortgage banking.  Through its wholly
 owned subsidiaries, RBMG works with correspondent lenders and brokers to
 purchase, sell and service agency-eligible and subprime residential, single-
 family first mortgage loans and to purchase and sell servicing rights
 associated with agency-eligible loans.
 
                      Resource Bancshares Mortgage Group, Inc.
                              Selected Operating Data
                                  ($ in thousands)
                                    (Unaudited)
 
 
                             For the Month Ended or
                                       At            For the three months Ended
                             March 31,   March 31,   March 31,      March 31,
                                2001        2000        2001           2000
     Production:
 
     Correspondent          $  827,313    $317,324  $ 1,973,522    $   914,034
     Wholesale                 245,590      92,707      548,226        248,088
     Agency-Eligible         1,072,903     410,031    2,521,748      1,162,122
     Subprime                   76,217      62,412      188,996        152,484
     Leases                      8,401      10,481       24,984         24,246
     Total                  $1,157,521    $482,924  $ 2,735,728    $ 1,338,852
 
     Number of Working Days         22          23           62             63
     Average Production Per
      Working Day           $   52,615    $ 20,997  $    44,125    $    21,252
 
     Pipeline:
 
     Locked Mortgage Loan
      Pipeline              $1,330,979    $536,262  $        --    $        --
     Mortgage Application
      Pipeline                 653,384     414,910           --             --
     Total Agency-Eligible
      Pipeline              $1,984,363    $951,172  $        --    $        --
 
     Servicing Portfolios:
 
     RESIDENTIAL*
     Owned Servicing
      Portfolio             $7,980,429  $7,713,016           --             --
     Number of Loans            73,637      76,619           --             --
     Weighted Average Note
      Rate                        7.49%       7.54%          --             --
     Weighted Average
      Service Fee                 0.42%       0.44%          --             --
     Delinquency Percentage
      (30+ days)**                1.78%       1.90%          --             --
     Bankruptcy &
      Foreclosure                 0.60%       0.71%          --             --
 
     LEASING
     Managed Lease Servicing
      Portfolio***          $  196,348  $  172,115           --             --
     Weighted Average Net
      Yield for Managed
      Lease
       Servicing Portfolio       10.84%      10.63%          --             --
     Delinquencies
      (30+Days)-Managed
      Lease Servicing
       Portfolio                  2.62%       2.82%          --             --
 
     Servicing Transactions:
 
     Agency-Eligible
      Servicing Sold        $1,348,290   $ 972,856   $2,176,537     $1,128,536
 
 
           * Includes $241,090 and $174,595 of subprime loans as of March 31,
             2001 and March 31, 2000, respectively, being temporarily
             serviced until these loans are sold.
          ** Percentages do not include bankruptcy and foreclosure loans.
         *** Managed lease servicing portfolio consists of $193,882 and
             $161,576 of leases owned by the Company and $2,466 and $10,539 of
             leases serviced for investors as of March 31, 2001 and March 31,
             2000, respectively.
 
 
         The above data reflects current operating statistics and does not
         constitute all factors impacting the quarterly or annual financial
         results of the Company.  All statistics are unaudited.
 
 SOURCE  Resource Bancshares Mortgage Group, Inc.