An increase in residential lending at Primary Residential Mortgage Inc. was accompanied by more loans added to its mortgage servicing portfolio and more employees added to its staff.
There were 7,999 home loans closed for $1.725 billion during the three months that ended on June 30.
Mortgage production surged from the previous three-month period, when 5,689 loans were originated for $1.190 billion.
But business declined from the same three months last year, when production worked out to 8,567 units for $1.797 billion.
The Salt Lake City-based organization reported the data, in addition to other operational metrics, as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
So far this year, PRMI has originated 13,688 loans for $2.915 billion.
As of June 30, 2016, the mortgage servicing portfolio was 11,873 loans for $2.247 billion.
The portfolio inched up from three months earlier, when PRMI serviced 11,064 loans for $2.165 billion, and from June 30, 2015, when the total was 10,025 mortgages for $2.035 billion.
All of the loans were serviced for third parties.
There were 1,990 people on PRMI’s payroll as of mid-2016.
Headcount increased from 1,957 the previous quarter and 1,987 in the year-earlier period.
