New quarterly production at Primary Residential Mortgage Inc. was up by nearly a quarter, though annual originations eased. The company expanded its compliance management staff. PRMI sees growth exceeding 40 percent this year.
Fourth-quarter production was $1.053 billion at PRMI, the company reported to Mortgage Daily.
Business increased from the third quarter, when production was $0.853 billion. But volume fell short of the $1.384 billion closed in the fourth-quarter 2010.
Full-year 2011 originations were $3.475 billion, trailing $4.165 billion funded during 2010.
This year, the company projects more than $5 billion in annual production.
PRMI previously reported that it operates 275 offices and employs more than 2,000 people.
More than 850 originators are on staff at the company.
The Salt Lake City-based lender announced Wednesday the creation of a new enterprise risk management group. The group will be headed by H. Burton Embry, a senior vice president with 25 years’ mortgage banking experience.
PRMI promoted Shelly Hill to compliance director from state compliance manager.
