Retail originations more than doubled last year at Quicken Loans Inc. After falling by nearly half in the third quarter, fundings jumped by nearly half.
Fourth-quarter 2009 residential production by retail originators at the Livonia, Mich.-based company was $6.2 billion, Quicken reported today to MortgageDaily.com.
Based on prior data, business came in at just $4.1 billion during the third quarter 2009 — tumbling from the second quarter’s $7.9 billion.
In the fourth-quarter 2008, residential production was just $3.0 billion.
During all of 2009, retail volume was $25.0 billion, according to a news release today. Activity more than doubled from the $12.0 billion originated during 2008.