Compared to a year ago, quarterly mortgage production has more than doubled at loanDepot LLC — which has already exceeded last year’s residential loan originations.
The
Foothill Ranch, California-based organization originated $7.266 billion during the three months that ended on Sept. 30.
loanDepot disclosed the mortgage production details, as well as other operational data, as part of the Mortgage Daily Third Quarter 2015 Mortgage Origination Survey.
New business was down compared to the previous three-month period, when $7.9 billion in home loans were closed.
Residential loan originations have more than doubled, however, from
the third quarter of last year, when 15,788 mortgages were funded for $3.544 billion.
From Jan. 1 through Sept. 30 of this year, loan production amounted to $21.6 billion — more than the $13.2 billion originated during all of last year.
Contributing to the phenomenal year-over-year growth was the January 2015 acquisition of Mortgage Master Inc., which funded more than $6 billion in 2013.
loanDepot, which canceled a planned initial public offering
in November, reported that it serviced 98,175 loans as of Sept. 30, 2015.
While no dollar amount was listed for the servicing portfolio, it was previously reported at $16.565 billion as of June 30.
As of Sept 30, 2014,
loanDepot serviced 65,347 loans for $13.999 billion.
No number was reported for staffing, which stood at 4,300 people as of
June 30, 2015.
