Quarterly business picked up at Provident Funding Associates LP, with mortgage brokers being responsible for the bulk of the activity.
Third-quarter residential originations totaled $9.869 billion at the Burlingame, Calif.-based company, according to data provided to Mortgage Daily. That worked out to 32,753 units.
Volume increased from the prior quarter, when production totaled $7.309 billion.
During the same three months last year, Provident closed $6.3 billion.
Provident’s year-to-date Sept. 30 fundings totaled $26.287 billion.
Retail originations accounted for $1.525 billion of the latest activity, while the wholesale channel generated $7.231 billion and correspondent production was $1.113 billion.
The mortgage servicing portfolio finished last month at 354,233 loans for $79.050 billion. The total included $61.117 billion in owned servicing and $17.933 billion in third-party servicing.
Staffing at Provident closed out the third quarter at 486 employees.
