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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.

PRMI Business Down, Servicing Up

Q3 mortgage originations off 16%

Oct. 14, 2013

By Mortgage Daily staff

Quarterly business at Primary Residential Mortgage Inc. was down from the prior period, as was staffing. But the lender did manage to increase the size of its servicing portfolio.

Home loan production at PRMI totaled 5,935 mortgages closed for $1.189 billion, the company reported for the Mortgage Daily Third Quarter Origination Survey.

All of the loans were originated through the retail channel.

Activity slowed from the prior three-month period, when 7,017 loans were funded for $1.419 billion.

Originations also retreated from the third-quarter of last year's 7,009 loans for $1.364 billion.

From Jan. 1 through Sept. 30 of this year, mortgage production totaled 19,167 units for $3.837 billion.

PRMI reported that it serviced 8,137 loans for $1.571 billion as of the end of last month, growing from 7,104 loans serviced for $1.350 billion at the end of June.

At the same point in 2012, the portfolio was 3,846 loans being serviced for $0.694 billion.

Moving on to staffing, 1,681 employees were on board at the end of the third quarter.

Headcount at the Salt Lake City-based firm was down from 1,711 people at the end of the second quarter. Staffing was also lower than a year earlier, when PRMI employed 1,706 people.

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