Despite a quarter-over-quarter decline in home lending and staffing at Prosperity Home Mortgage LLC, both metrics were up from a year earlier.
Chantilly, Virginia-based Prosperity was originally formed as a joint venture between Long & Foster Companies and Wells Fargo & Co. in 1993.
In
2014 it expanded its operations from just the Carolinas to the Mid-Atlantic and Northeast. It currently is a wholly owned subsidiary of Long & Foster.
It’s 140 mortgage consultants in 10 states
originated 3,320 mortgages for $0.957 billion during the three months ended Sept. 30, according to operational data submitted as part of the Mortgage Daily Third Quarter 2016 Mortgage Origination Survey.
Business slipped from the prior three-month period, when 3,447
residential loans were closed for $0.984 billion.
But lending activity accelerated from the same three months last year, when
2,796 loans were funded for $0.767 billion.
For all nine months that have elapsed so far during 2016, Prosperity’s mortgage production — which is solely generated through the retail channel — came to
8,804 loans for $2.500 billion.
Staffing at Prosperity concluded last month at 433 employees. Headcount was trimmed by six people versus at the end of the second quarter.
But the number of employees has expanded from 389 people as of Sept. 30, 2015.
