The mortgage servicing portfolio at Caliber Home Loans Inc. expanded by more than 500 percent last year mostly due to the acquisition of mortgage servicing rights.
The Irving, Texas-based company reported Wednesday that it originated $8.4 billion during all of 2013.
Caliber, which changed its name from Vericrest Financial in June 2013, reports that its mortgage servicing portfolio soared past 244,000 loans for $50 billion as of Dec. 31, 2013.
The portfolio was just $7.9 billion as of the end of 2012.
In addition to organically increasing the number of loans it services through loan production, the rapid growth was achieved through the acquisition of MSRs on $35 billion in home loans.
“Caliber was able to achieve this growth due to its strong balance sheet and continued capital support from its financial sponsor,” the announcement said.
Caliber is owned by Lone Star Funds, the former parent of Accredited Home Lenders.
