McLean Mortgage Corp. bumped up its quarterly loan production. The mortgage banking firm, however, trimmed its payroll.
Mortgage production volume during the first three months of this year worked out to 1,101 loans closed for $0.391 billion.
The Fairfax, Virginia-based firm outlined its originations and other company metrics in the Mortgage Daily First Quarter 2015 Mortgage Origination Survey.
Based on prior data, McLean improved on its performance in the fourth quarter of last year, when 1,135 home loans were funded for $0.377 billion.
“Helped by lower interest rates and a growing sales force, the increase compares favorably to industry trends,” McLean said in a news release.
Activity also ascended from the first-quarter 2014, a period when
660 residential loans were originated for $0.210 billion.
Pat Peavley, chief executive officer of McLean, explained in the announcement that one-third of the company’s loan originators closed at least $2 million — a record.
McLean, which reported no mortgage servicing, said it employed 213 people as of March 31, 2015.
Staffing
subsided from the end of last year, when headcount totaled 230 people.
