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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Churchill Business, Staffing Down

Q3 fundings fall 16% from Q2

Nov. 19, 2013

By Mortgage Daily staff

New quarterly home lending activity was lower at Churchill Mortgage, as was the size of the company's staff.

In the three months ended Sept. 30, home loan production amounted to 1,287 mortgages closed for $0.222 billion, according to the Mortgage Daily Third Quarter Mortgage Origination Survey.

All of Churchill's mortgages are originated through the retail lending channel.

Business for the Brentwood, Tenn.-based company wasn't as good as during the second quarter, when 1,493 residential loans were funded for $0.265 billion.

Origination activity also slowed from the third-quarter 2012, when 1,448 loans were closed for $0.258 billion.

In the first nine months this year, Churchill originated 4,472 mortgages for $0.782 billion.

The lender reported that it serviced no loans as of the end of the most recent quarter. Three months earlier, a servicing portfolio of seven loans for less than $0.001 billion was reported.

Staffing closed out September at 320 employees, fewer than the 340 who were on the payroll as of June 30.

But headcount has increased from the same point in 2012, when the staff size was 292.

Earlier this month, Churchill announced that its parent, Churchill Holdings Inc., sold a minority stake in the company to a newly formed employee stock ownership plan.

Churchill Mortgage profile

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