Mortgage production was off at Guaranteed Rate Inc., though the decline was on the low end of volume loss for all mortgage originators. The servicing portfolio grew larger.
Residential loan originations from July 1 to Sept. 30 worked out to 14,157 loans for $4.047 billion, according to the Mortgage Daily Third Quarter Origination Survey.
Business totaled 16,110 units funded for $4.692 billion in the three months ended June 30.
The Chicago-based mortgage company previously reported that it originated 17,554 loans for $4.907 billion during the third-quarter 2012.
The 14 percent quarter-over-quarter deterioration was on the low end of third-quarter declines reported by most other lenders. Declines ranged from 9 percent at Bank of America to 63 percent at Provident Funding Associates.
During the nine months ended Sept. 30, 2013, Guaranteed Rate closed 45,311 home loans for $13.067 billion.
All of Guaranteed Rate’s production is generated through the retail origination channel.
With 16,142 mortgages serviced for $3.917 billion as of the end of the third quarter, the servicing portfolio has grown from June 30, when $3.432 billion was serviced.
The portfolio has more than doubled from the 7,061 units serviced for $1.771 billion serviced as of Sept. 30, 2012.
Tucked away in the most recent total servicing portfolio were 15 portfolio loans for $0.004 billion.
Guaranteed Rate employed 2,803 people as of the end of the third-quarter 2013. Staffing subsided from 2,957 three months earlier.
But headcount stood well above the roughly 2,000 people on the payroll at the same point last year.
