Residential loan production mostly held up last quarter at Fremont Bank. The bank, however, scaled back on its mortgage staffing
From the beginning of April until the end of last month, Fremont funded 7,013 loans for $1.800 billion, according to data supplied to Mortgage Daily.
There was little change from first-quarter volume, which amounted to 7,162 loans for $1.820 billion.
Business improved slightly from the second quarter of last year, when Fremont generated $1.699 billion in mortgage originations.
Full first-half 2013 production was 14,175 home loans originated for $3.620 billion.
Retail business slipped to $1.343 billion from the first quarter’s $1.351 billion, and wholesale lending inched down to $0.457 billion from $0.469 billion.
Fremont’s mortgage servicing portfolio crept higher, to 53,434 loans for $10.390 billion from the previous quarter’s 52,657 mortgages serviced for $10.132 billion.
The June 2013 portfolio included $1.235 billion in portfolio loans owned by the bank and $9.155 billion in residential loans serviced for third parties.
Fremont Bank had 402 people employed in its mortgage lending division as of June 30.
The Fremont, Calif.,-based company reduced its mortgage staff from three months prior, when headcount was 465.
