Stonegate Mortgage Corp. is the only residential originator yet to report a gain in quarterly business. The lender also increased its servicing portfolio and expanded its staffing. Recent acquisitions fueled the growth.
From Oct. 1 until Dec. 31, residential originations totaled 12,278 loans for $2.382 billion, according to the Mortgage Daily Fourth Quarter 2013 Loan Origination Survey.
Mortgage production moved up from the third quarter, when 12,263 loans were closed for $2.340 billion.
Of all the mortgage firms that have reported fourth quarter data, Stonegate is the only one to report a gain from the third quarter.
Business was also better than in the fourth-quarter 2012, when the Indianapolis-based company funded 7,201 loans for $1.399 billion.
Full-year mortgage originations amounted to 45,806 loans for $8.708 billion.
Dollar volume more than doubled from 2012’s production of $3.449 billion.
Fourth-quarter 2013 activity included $0.132 billion in retail production, $0.417 billion in wholesale originations and $1.833 billion in correspondent acquisitions.
Stonegate serviced 65,819 loans for $11.890 billion as of the end of last year.
The mortgage servicing portfolio expanded from 54,155 loans for $9.683 billion at the end of September and 25,372 loans serviced for $4.381 billion at the end of 2013.
Staffing jumped to 1,138 employees as of the end of last year versus just 742 at the end of the third quarter and only 311 people as of Dec. 31, 2012.
Metrics have increased at Stonegate as the company announced the acquisition of Crossline Capital Inc. in December and the purchase of Nationstar Mortgage Holding Inc.’s wholesale lending business earlier that same month.
On Thursday, Stonegate disclosed that it completed the acquisition of Medallion Mortgage Co.
