In addition to boosting its quarterly home-lending activity, Fairway Independent Mortgage Corp. expanded its residential loan servicing portfolio and grew its payroll.
Fairway reported as part of the Mortgage Daily Third Quarter 2016Â Mortgage Origination Survey that it serviced 21,277 loans for $4.481 billion as of Sept. 30.
The
Sun Prairie, Wisconsin-based mortgage banker’s residential loan servicing portfolio has grown substantially from 12,330 loans for $2.664 billion three months earlier.
An increase was also recorded from one year earlier, when the servicing portfolio stood at
10,568 loans for $2.239 billion.
The most-recent total included $4.461 billion in third-party servicing.
Fairway originated 22,854 loans for $5.285 billion during the latest three-month period.
Production improved from 20,635 loans closed for $4.650 billion in the second-quarter 2016.
It was also better than in the third-quarter 2015, when 14,618 loans were funded for $3.058 billion.
During all three quarters that have concluded so far this year, mortgage originations came to 56,719 loans for $12.774 billion.
Third-quarter 2016 business consisted of $4.881 billion in retail originations, $0.338 billion in wholesale lending and $0.066 billion in correspondent acquisition.
Headcount finished September 2016 at 4,115 people. Staffing expanded from 3,692 employees as of mid-2016 and
2,774 employees as of Sept. 30, 2015.
