Home lending activity turned lower at Churchill Mortgage Corp., as did headcount. The company has started reporting originations through the wholesale channel.
The
Brentwood, Tennessee-based company serviced three loans that collectively had an unpaid principal balance of $0.001 billion at the end of last year.
Churchill revealed the total, in addition to other operational metrics, as part of the
Mortgage Daily Fourth Quarter 2017 Mortgage Origination Survey.
The servicing portfolio was two loans for less than $0.001 billion three months earlier and a year earlier.
All of the loans serviced by Churchill are owned by the company.
During the final-three months of last year, Churchill originated 1,533 loans for $0.317 billion — including $0.306 billion in retail production and $0.012 billion in wholesale lending. It was the first quarter that Churchill has reported any wholesale activity.
Overall business fell from 1,706 loans for $0.375 billion in the third quarter and 1,935 loans for $0.395 billion in the fourth-quarter 2016.
For all 12 months of last year, 6,216 loans were closed for $1.312 billion, retreating from 7,578 loans funded for $1.550 billion during 2016.
Staffing stood at 345 employees as of Dec. 31, 2017, down from 350 people at the end of the third quarter and 395 employees at the end of 2016.
