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Mortgage Staffing, Servicing Grow at Alaska USA

Mortgage employees on Alaska USA Federal Credit Union’s payroll increased from the prior quarter and a year prior, as did residential loan servicing.

At the middle of 2018, the financial institution serviced 27,385 single-family loans with an aggregate unpaid principal balance of $5.272 billion.

Anchorage, Alaska-based Alaska USA revealed the details as part of the Mortgage Daily Second Quarter 2018 Mortgage Origination Survey.

The mortgage servicing portfolio increased from 27,454 loans for $5.266 billion
as of March 31 and 27,628 loans for $5.260 billion as of June 30, 2017.

Third-party servicing accounted for $4.977 billion of the latest portfolio.

The credit union closed 820 loans for $0.216 billion during the three months ended June 30 of this year. Business, which was all generated through the retail channel, jumped from 695 loans closed for $0.173 billion in the first quarter.

But mortgage production retreated from 1,004 loans originated for $0.260 billion during the second-quarter 2017.

From Jan. 1, 2018, through June 30, Alaska USA closed 1,515 loans for $0.389 billion.

Mortgage staffing concluded the first half at 269 employees, nine more than three months earlier. Headcount has grown by 16 employees since the mid-point of last year.

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