Staffing increased during the fourth quarter at Provident Funding Associates LP, as annual mortgage production grew by more than half and the servicing portfolio expanded.
From Oct. 1 until Dec. 31, Provident originated 32,020 residential loans, according to operational data provided to Mortgage Daily. That amounted to $9.523 billion in mortgage production.
Business slipped from the third quarter, when the Burlingame, Calif.-based firm closed 32,753 loans for $9.869 billion.
During the fourth-quarter 2011, Provident funded $8.7 billion.
Fourth-quarter 2012 volume included $1.435 billion in retail fundings, $6.632 billion in wholesale production and $1.455 billion generated through the correspondent channel.
Full-year 2012 mortgage production totaled $35.810 billion, climbing significantly from a year earlier, when $23.6 billion was originated.
The total mortgage servicing portfolio finished last month at 395,110 loans for $89.475 billion. The servicing portfolio increased from 354,233 loans for $79.050 billion at the end of September.
The year-end 2012 servicing portfolio included 107,329 loans for $26.576 billion that were serviced for third parties and 287,781 portfolio loans for $62.898 billion.
Provident grew its mortgage staff to 548 employees as of the end of December from 486 people at the end of September.
