After shattering prior production and staffing records in the first quarter, activity slowed at Quicken Loans Inc. Still, production has substantially increased and headcount has nearly doubled compared to year-earlier levels, while the mortgage servicing portfolio continued to expand.
Home-loan originations during the three months ended June 30 amounted to $23.8 billion, according to Mortgage Daily’s second-quarter mortgage origination survey.
Quicken generates home loan originations through an online retail channel and also through its correspondent lending division, Quicken Loans Mortgage Services.
New business slipped from the first quarter, when a record $25.5 billion was originated.
But mortgage closings have substantially accelerated from the second-quarter 2012, when only $13.9 billion was closed by the online lender.
Quicken said it serviced $131.5 billion in residential loans as of June 30.
The servicing portfolio grew from the end of March, when Quicken serviced $123.3 billion. in mortgages.
No servicing portfolio was reported for the second-quarter 2012.
Around 10,000 “team members” were on staff at the Detroit-based company as of the end of last month, the same as was reported for the end of the first quarter.
But headcount has significantly expanded from a year earlier, when only 5,500 people were employed by Quicken.
