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.
