Headcount finished the latest quarter higher at Primary Residential Mortgage Inc. But mortgage originations were lower, and the loan servicing portfolio was little changed.
Home-lending volume during the three months that ended on March 31 amounted to 5,689 loans for $1.190 billion.
Business slowed from the previous three-month period, when 6,140 residential loans were closed for $1.317 billion.
The Salt Lake City-based organization provided the data, as well as other operational metrics, in the
Mortgage Daily First Quarter 2016 Mortgage Origination Survey.
PRMI also saw a slow down versus the first-three months of last year, when 6,269 loans were originated for $1.332 billion.
A hundred percent of PRMI’s production comes from the retail channel.
PRMI serviced 11,064 loans for $2.165 billion as of the most-recent date.
The servicing portfolio
was 10,992 loans for $2.175 billion as of the end of the fourth-quarter 2015 and 8,347 loans serviced for $1.643 billion at the close of the first-quarter 2015.
As of March 31, 2016, there were 1,957 people on PRMI’s payroll.
Staffing
increased by 14 employees from the end of last year but has subsided by 29 people from the same date last year.
