Mortgage Daily Logo
mortgage news from industry experts

Fairway Independent Mortgage Originations Double

Last year’s new home lending at Fairway Independent Mortgage Corp. was nearly double the level of lending in 2014. Staffing and servicing also grew.

During the final three months of 2015, residential loan originations totaled
13,230 loans for $2.818 billion.

The
Sun Prairie, Wisconsin-based company made the disclosure as part of the Mortgage Daily Fourth Quarter 2015 Mortgage Origination Survey.

New business slipped compared to the third quarter, when
14,618 loans were closed for $3.058 billion.

Activity was solidly better, however, than in the fourth-quarter 2014 — when
8,288 loans were funded for $1.720 billion.

The most-recent production brought full-year 2015 volume to 52,035 loans originated for $11.152 billion.

Annual activity nearly doubled compared to 2014, when originations amounted to $5.63 billion.

The fourth-quarter 2015 total consisted of $2.640 billion in retail originations, $0.145 billion in wholesale lending and $0.033 billion in correspondent acquisitions.

Fairway finished 2015 with a servicing portfolio of 15,401 loans for $3.290 billion.

The portfolio expanded from the prior period, when 10,568 loans were serviced for $2.239 billion.

It was also larger than at the end of 2014, when 7,593 loans were serviced for $1.517 billion.

Third-party servicing accounted for $3.281 billion of the Dec. 31, 2015, total.

Last year ended with 3,039 people on Fairway’s payroll.

Headcount surged from 2,774 employees as of Sept. 30, 2015, and
2,041 people as of Dec. 31, 2014.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION