Lenders One Mortgage Cooperative saw aggregate quarterly production jump by more than a third. While most of the business was conforming and government, the group reported some nonprime originations.
Members of the St. Louis-based organization originated $24.2 billion during the third quarter, Drew Schinderwolf, director of secondary marketing, reported to Mortgage Daily. Business jumped from the second quarter’s $18.0 billion.
The cooperative’s collective fundings were previously reported at $18.1 billion for the third-quarter 2009.
The latest three-month period included $14.2 billion in conventional mortgages, $9.3 billion in government originations and $0.6 billion in jumbo business.
Third-quarter volume also included $14 million in Alt-A originations, $20 million in second mortgages and home-equity line-of-credit closings, and $3 million in nonprime mortgage fundings.
From January through September, Lenders One originations totaled $58.1 billion.