A number of single-family lenders recently reported solid levels of residential loan production — even record activity. The volume drove growth in profits and staffing.
Last year, United Wholesale Mortgage originated a record $23 billion, a June 29 news release indicated. This year is on pace to exceed $30 billion in production
Staffing at the subsidiary of United Shore Financial Services LLC has expanded to 2,100 employees from only 400 people back in 2010.
Troy, Michigan UWM, which claims to be the biggest wholesale lender in the nation, is moving its headquarters next summer to Pontiac, Michigan. At 600,000 square feet, the new digs will double the size of its home office.
“The wholesale channel is growing at an explosive rate and our clients are growing at an even faster clip,” UWM President and Chief Executive Officer Mat Ishbia said in the statement. “This move will allow us to keep pace, expand our operations and continue to deliver the great service and industry-leading turn times that our clients have come to expect.”
Out of the $3.0 billion in previously reported loans funded during the first-three months of this year, Guild Mortgage Co. said on June 13 that a record $2.4 billion was purchase financing.
Guild Mortgage President and CEO Mary Ann McGarry explained that a focus on first-time homebuyers contributed to the strong performance.
San Diego-based Guild Mortgage reports more than 250 branches, while headcount exceeds 3,800 people.
The 40,600 loans funded last year for $11.7 at New American Funding generated “record-breaking profitability” for the Tustin, California-based firm, a June 1 announcement indicated.
In
Woodland Hills, California, AmeriHome Mortgage Company LLC closed $7.5 billion in home loans in the first quarter of this year, Inside Mortgage Finance reported. During just June, $3.5 billion in loans were locked.
