New quarterly business was slightly better at Churchill Mortgage Corp. But the number of people on the payroll and the balance of loans serviced diminished.
Two single-family loans with a combined unpaid principal balance of less than $0.001 billion were serviced by the
Brentwood, Tennessee-based company as of Sept. 30.
The mortgage servicing portfolio was reported by Churchill as part of the Mortgage Daily Third Quarter 2017 Mortgage Origination Survey.
Three loans were serviced three months earlier, while the total was two mortgages a year earlier
Churchill originated 1,706 mortgages for $0.375 billion during the latest three-month period. Production inched up from 1,672 loans for $0.358 billion in the second quarter. But business, which is all generated through the retail channel, slowed from 2,223 loans for $0.462 billion in the third-quarter 2016.
From Jan. 1, 2017, through Sept. 30, loan production amounted to
4,683 units for $0.995 billion.
Headcount concluded September 2017 at 350 people, down 12 employees from the prior quarter and 36 fewer positions than a year prior.
