As quarterly home lending took a giant leap at Finance of America Holdings LLC, the mortgage servicing portfolio expanded and staffing increased.
As of Sept. 30,
Horsham, Pennsylvania-based company serviced 13,821 residential loans with an aggregate principal balance of $2.852 billion.
Finance of America revealed the data and other operational metrics as part of the Mortgage Daily Third Quarter 2016 Mortgage Origination Survey.
The servicing portfolio
grew from 11,164 loans for $2.165 billion three months earlier and 7,275 loans for $1.201 billion one year earlier.
All of the loans are serviced for third parties.
After the publication of this story, Finance of America clarified that clarified that the production data reflects only originations from Finance of America Mortgage and does not include activity from Finance of America Reverse.
During the most-recent three-month period, 17,981 loans were originated for $5.513 billion.
Business jumped from 14,939 loans for $4.411 billion in the second quarter and soared from 10,610 loans for $2.838 billion in the third-quarter 2015.
From Jan. 1, 2016, through Sept. 30, home-lending volume came to 43,413 loans for $13.003 billion.
Third-quarter 2016 production included $4.092 billion in retail originations and $1.421 billion in wholesale lending.
Staffing concluded September 2016 at 3,595 employees. Headcount expanded from 3,544 people as of mid-2016 and 2,650 employees as of the same date last year.