New quarterly lending activity at Provident Funding Associates LP turned lower. As well, the servicing portfolio diminished, and staffing declined.
During the three months ended June 30, the mortgage banking firm closed 7,095 loans for $1.980 billion.
That was according to data provided by Provident as part of the Mortgage Daily Second Quarter 2015 Mortgage Origination Survey.
New business slumped compared to the first quarter, when the Santa Rosa, California-based company originated 8,013 units for $2.268 billion.
But an improvement was recorded from the second-quarter 2014, when mortgage production totaled 5,401 loans funded for $1.420 billion.
For the entire first half of this year, Provident has originated 15,108 loans for $4.248 billion.
Second-quarter 2015 production included $0.467 billion in loans from the retail channel, $1.295 billion in business generated through the wholesale channel and $0.218 billion in correspondent acquisitions.
Provident serviced 288,875 home loans for $78.342 billion as of the end of last month.
The servicing portfolio
was trimmed from 371,249 mortgages serviced for $80.756 billion as of March 31.
The decline was even more steep compared to June 30, 2014, when Provident serviced
419,609 loans for $93.259 billion.
Moving on to staffing, there were 569 people on the payroll as of the close of the second-quarter 2015.
Headcount was reduced from
592 employees three months earlier and 699 people a year earlier.
