A modest improvement was made by Movement Mortgage LLC in its quarterly loan production. In addition, the home lender grew its staffing and mortgage servicing.
Movement reported as part of the
Mortgage Daily Third Quarter 2016 Mortgage Origination Survey that it serviced 2,353 loans for $0.427 billion as of Sept. 30.
The Indian Land, South Carolina-based mortgage banking firm’s residential servicing portfolio was up from 1,427 loans for $0.284 billion as of three months earlier.
Twelve months earlier, Movement Mortgage serviced 820 loans for $0.164 billion.
The most-recent portfolio included $0.409 billion in loans serviced for third parties.
From July 1, 2016, through Sept. 30, Movement Mortgage closed 15,865 loans for $3.545 billion. All of the company’s business is generated through the retail channel.
Originations picked up from 15,419 loans funded for $3.345 billion in the second quarter.
Production was also better than 10,719 loans originated for $2.23 billion in the third-quarter 2015.
For all nine months that have completed so far in 2016, home-lending activity amounted to 41,334 loans for $9.025 billion.
September 2016 finished with 3,887 employees on the payroll. Headcount expanded from 3,728 people at the end of the prior quarter and 2,634 employees a year prior.
