New business was jump-started at Provident Funding Associates LP. The lender, however, trimmed staffing and cut the size of its servicing portfolio.
Residential loan originations during the period from Jan. 1 through March 31 were 8,013 loans for $2.268 billion.
The details about Provident’s mortgage operations were provided as part of its participation in the Mortgage Daily First Quarter 2015 Mortgage Origination Survey.
Business at the Santa Rosa, California-based company soared from
5,205 home loans closed for $1.416 billion in the final quarter of last year.
In the first quarter of last year, Provident generated mortgage production of 4,044 loans for $1.007 billion.
Provident serviced 371,249 loans for $80.756 billion as of March 31, 2015. The total included $22.388 billion in third-party servicing.
The servicing portfolio was reduced from 401,126 loans for $89.200 billion at the end of last year and 406,713 loans for $90.899 billion at the same point last year.
Provident employed 592 people as of the end of the most-recent period,
trimming its staff by 11 from Dec. 31, 2014.
As of March 31, 2014, headcount stood at
699.
