Quarterly mortgage lending shot up at Caliber Home Loans Inc. as the servicing portfolio increased and the size of the staff expanded.
As of mid-2016, Caliber serviced 342,001 residential loans for third parties that had an aggregate principal balance of $76.325 billion.
The data was revealed by the Irving, Texas-based firm as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
The servicing portfolio grew compared to March 31, when 319,032 mortgages were serviced for $70.991 billion.
Caliber reported in May that its planned acquisition of substantially all of the assets of
First Priority Financial was expected to expand its servicing portfolio to around $90 billion.
That transaction closed on July 1.
Caliber originated 36,467 loans for $9.387 billion during the three months ended June 30.
Business leapt from the first quarter, when 25,280 mortgages were closed for $6.178 billion.
That brought first-half 2016 lending volume to 61,747 loans for $15.565 billion.
Second-quarter 2016 volume included $3.813 billion in retail originations, $3.322 billion in wholesale lending and $2.252 billion in correspondent acquisitions.
During all of last year,
Caliber’s loan production totaled $25.637 billion.
Third-quarter 2016 mortgage production is likely to see a further lift thanks to the acquisition
of First Priority, which reported $1.5 billion in 2015 originations.
As of the most-recent date, staffing stood at 4,998 employees.
Headcount was up from 4,557 people at the end of the first quarter.
The First Priority acquisition added around 370 employees.
