Despite a decline in quarterly volume, Fairway Independent Mortgage Corp. closed more loans in 2010 than during any other year in its 14-year history. This year, the company will turn its attention to recruiting loan originators.
In the final three months of last year, home-loan fundings were $1.2 billion, according to data reported Monday. Business dipped from the third quarter’s $1.3 billion.
During all of 2010, the Sun Prairie, Wis.-based lender closed $3.94 billion in residential loans. Volume last year was the highest ever.
In 2009, production was $3.35 billion.
Fairway Founder and Chief Executive Officer Steve Jacobson explained in the report that at the beginning of last year, around 80 percent of originations were for home purchases — its primary focus for years. But refinances accounted for more of the business later in the year.
This year, Jacobson noted that efforts will be focused on recruiting loan officers who become available as a result of new compensation rules.
“We’re recruiting right now,” the CEO said in the statement. “Our success has always been a team effort, and we’re constantly adding good people.”
Fairway said that it employs 1,030 people, fewer than the 1,050 reported as of Oct. 25, 2010. But headcount was up from less than 700 two years ago.
Branch count currently sits at 90, climbing from 85 reported in August 2010.
