In addition to boosting its annual home-lending volume by more than half, Movement Mortgage LLC added nearly a thousand employees last year.
As of year-end 2016, Indian Land, South Carolina-based firm serviced 2,593
residential loans with an aggregate principal balance of $0.462 billion.
Movement revealed the data, along with other operational metrics. as part of the
Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
The servicing portfolio inched up from 2,353 loans for $0.427 billion as of Sept. 30. It was also higher than 1,112 loans for $0.218 billion as of Dec. 31, 2015.
As of the end of the fourth quarter of last year, the servicing portfolio consisted of $0.460 billion in third-party servicing and $0.002 billion in loans held for investment.
From Oct. 1, 2016, through Dec. 31, 2016, the
mortgage banker closed 13,305 loans for $3.020 billion. Business dropped from 15,865 loans funded for $3.545 billion three months earlier. But activity ascended from 10,205 units originated for $2.105 billion.
For all of last year, mortgage production amounted to 54,639 loans for $12.045 billion.
Volume soared from 37,963 loans closed for $7.826 billion in 2015.
Movement generates all of its originations from the retail channel.
Staffing finished last year at 3,998 employees. Headcount expanded from 3,887 people at the end of the third quarter
and 3,015 employees as of year-end 2015.
