In the final three months of 2011, Fairway Independent Mortgage Corp. originated more loans than in any other quarter in its history. The company increased its staffing and plans to continue recruiting this year.
Residential originations totaled $1.3 billion during the fourth quarter at the Sun Prairie, Wis.-based company, according to a news release Thursday. It was the biggest quarter ever for Fairway.
Business increased from $0.94 billion during the third quarter. In the fourth-quarter 2010, production was $1.2 billion.
Fairway, which claims to be “one of the country’s largest mortgage bankers,” said it closed $3.6 billion for all of 2011. Volume fell from a record $3.94 billion originated during 2010.
Historically low rates and elevated refinancing activity fueled last year’s activity, Fairway Chief Executive Officer Steve Jacobson said in the statement.
The size of the lender’s staff has grown to 1,108 from 1,030 a year prior. Recruiting will continue this year, according to Jacobson.
Branch count at Fairway increased by 13 last year to 128 branches.
Jacobson forecasted that additional branches will be added this year.
