Quarterly home-lending activity turned solidly higher for Churchill Mortgage Corp. But the company saw a decline in its staffing and small servicing portfolio.
As of Sept. 30, 2016, the Brentwood, Tennessee-based organization serviced just two loans with an aggregate principal balance of less than $0.001 billion.
Those details, along with other operational metrics, were provided as part of the Mortgage Daily Third Quarter 2016Â Mortgage Origination Survey.
Churchill’s mortgage servicing portfolio was cut from 15 residential loans for $0.002 billion as of mid-2016.
From July 1, 2016, through Sept. 30, Churchill originated 2,223 loans for $0.462 billion. Business accelerated from the second quarter, when 1,912 home loans were closed for $0.391 billion.
During the nine months ended Sept. 30, mortgage production came to 5,643 loans for $1.155 billion.
Staffing at Churchill concluded the third-quarter 2016 at 386 employees. Headcount was reduced from 394 people three months earlier.
