New home lending activity accelerated at Quicken Loans Inc., while the company’s mortgage servicing portfolio continued to expand.
Detroit-based Quicken Loans closed $19.4 billion in residential loans during the period from Jan. 1 through March 31.
The company’s production statistics were provided as part of its participation in the Mortgage Daily First Quarter 2015 Mortgage Origination Survey.
Business was elevated from the previous quarter, when the online lender generated $18.6 billion in mortgage production.
Activity also picked up from the same quarter in 2014, a period when Quicken closed just $11.2 billion.
The mortgage servicing portfolio finished last month at $167.1 billion,
growing from $161.1 billion three months earlier.
A year earlier, Quicken serviced just $123.3 billion.
The servicing portfolio has more than doubled since the end of 2012.
There were 12,000 team members on the lender’s payroll as of March 31, 2015, the same as at the end of last year.
But headcount has expanded from 10,000 employees as of the same date last year.
Quicken is embroiled in litigation with the federal government over alleged shoddy lending practices on loans insured by the Federal Housing Administration. Quicken filed a lawsuit against the government on April 17, while the government sued Quicken just days later.
