Quarterly residential lending activity turned sharply lower at Stonegate Mortgage Corp., as did the size of the mortgage banker’s staff.
During the last three months of 2015, the Indianapolis-based firm closed 10,567 loans for $2.395 billion.
The statistics and other operational data were disclosed as part of the Mortgage Daily Fourth Quarter 2015 Mortgage Origination Survey.
Business tumbled from the third quarter, when 15,139 loans were funded for $3.483 billion, and the fourth-quarter 2014, when 15,082 loans were closed for $3.369 billion.
The most-recent volume brought full-year originations to 52,458 loans for $12.157 billion.
Annual activity was little changed from 2014 production of 59,243 loans for $12.635 billion.
Fourth-quarter 2015 business included
$0.416 billion in retail originations, $0.546 billion in wholesale lending and $1.433 billion in correspondent acquisitions.
Stonegate serviced 90,408 home loans for $17.521 billion as of Dec. 31, 2015.
The servicing portfolio was trimmed from 92,740 loans for $18.165 billion three months earlier and
99,711 loans for $18.337 billion a year earlier.
At the close of last year, there were 930 people on Stonegate’s payroll.
Staffing was slashed from 1,324 employees as of Sept. 30, 2015.
Headcount has also been significantly reduced since Dec. 31, 2014,
when it stood at 1,294.
