Home loan originations slowed during the first quarter of this year at Primary Residential Mortgage Inc., while staffing was reduced. But the company’s mortgage servicing portfolio climbed past $1 billion.
The Salt Lake City-based lender reported to Mortgage Daily that its first-quarter residential loan production totaled 6,215 loans for $1.229 billion.
Activity slowed from the fourth-quarter 2012, when PRMIÂ originated 7,259 mortgages for $1.444 billion.
In the first quarter of last year, $0.981 billion was originated.
PRMIÂ generates all of its business through the retail origination channel.
The mortgage servicing portfolio finished March above a billion dollars — with 5,559 loans being serviced for $1.046 billion.
Three months earlier, the total servicing portfolio was 4,015 loans for $0.742 billion.
PRMIÂ had 1,740 employees on staff as of March 31. Headcount was trimmed by nine employees as of the end of 2012.
