Quarterly home lending climbed by more than a third at Stearns Lending Inc., while the mortgage servicing portfolio increased and staffing expanded.
Residential loan production at Stearns came to 26,411 loans for $7.017 billion from April 1 through June 30 of this year.
Business
picked up from the first-three months of 2016, when 20,280 mortgages were funded for $5.236 billion.
The statistics, along with other operational data, were provided as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
Business slipped, however, from
27,650 loans closed for $7.073 billion in the second quarter of last year.
First-half 2016 originations amounted to 46,691 loans for $12.254 billion.
Retail originations accounted for $1.712 billion of the latest volume, while wholesale production was $2.695 billion and correspondent acquisitions made up the remaining $2.610 billion.
Stearns reported that it serviced 113,715 loans for $23.857 billion as of the end of last month.
The servicing portfolio grew from 112,329 loans for $23.647 billion three months earlier but contracted from
138,542 loans for $30.431 billion a year earlier.
The June 30, 2016, portfolio was all third-party servicing.
There were 1,921 people on Stearns’ payroll as of the most-recent date.
Staffing increased from 1,798 employees as of March 31 and 1,803 as of mid-2015.
