Quarterly residential fundings by members of Lenders One Mortgage Cooperative fell 15 percent — though aggregate originations nearly doubled from last year.
Combined production from the cooperative was $18.1 billion during the third quarter, Lenders One reported to MortgageDaily.com.
Volume eased from the second quarter’s record $21.2 billion previously reported but nearly doubled from $9.6 billion in the third-quarter 2008.
From Jan. 1 to Sept. 30, production totaled $58.2 billion, according to the St. Louis-based firm.
Lenders One Chief Executive Officer Scott Stern told MortgageDaily.com in a statement that the firm had 154 members operating from approximately 2,000 locations as of Sept. 30.
