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Flagstar Mortgage Production, Servicing Grow 

Quarterly home loan originations picked up at Flagstar Bancorp Inc. In addition, the financial institution’s mortgage servicing portfolio expanded.

From April 1 through June 30, Flagstar closed $8.448 billion in new residential loans. This information was provided in the lender’s second-quarter financial reports.

Residential lending activity pushed ahead of the $7.254 billion in loans funded during the first quarter.

As well, second-quarter home-lending activity shot up from the $5.951 billion originated in the same period last year.

For the entire first half of 2015, Flagstar’s mortgage production totaled $15.702 billion.

Refinance share dropped to 55 percent during the most-recent three-month period from 64 percent in the first quarter.

The recent lending volume included $5.8 billion from correspondent acquisitions. The retail channel contributed another $0.4 billion, and mortgage brokers originated $2.2 billion.

Rate-lock commitments dipped $0.6 billion from the first quarter to $6.8 billion.

As of June 30, the mortgage lender serviced 152,405 loans at $32.890 billion.

The number of serviced loans dropped from the March-ended tally of 153,628 loans, but the recent mortgage servicing portfolio amount increased from $31.979 billion, also reported as of March 31.

The latest servicing portfolio numbers additionally underwent similar changes compared to the same mid-point last year, when Flagstar serviced 154,023 home loans at $29.411 billion.

Third-party servicing accounted for $27.679 billion of last month’s portfolio.

An additional $43.292 billion in sub-servicing also was logged as of the end of the second-quarter 2015.

Flagstar accounted for $3.060 billion in residential loan assets as of June 30, 2015.

Assets on the latest balance sheet were higher than the $2.475 billion reported as of March 31 and the $2.799 billion listed as of the same point a year ago.

The Troy, Michigan-based lender’s latest mortgage investment portfolio included first mortgages at $2.495 billion, second mortgages at $0.143 billion and home-equity lines of credit at $0.422 billion.

Warehouse lending assets on the balance sheet grew to $1.204 billion from $1.083 billion as of March 31 and $0.683 billion as of June 30 last year.

Flagstar’s commercial real estate assets thinned to $0.629 billion from $0.635 at the end of the first quarter but increased from $0.523 billion at the end of the second quarter in 2014.

At $46 million as of the end of last month, the repurchase pipeline was reduced from the March-ended amount of $58 million.

Company-wide, the mortgage provider reported $74 million in earnings before taxes. Recent income surged ahead of first-quarter earnings at $50 million and second-quarter 2014 income at $37 million.

At 2,713, the June 2015-ended full-time employee headcount increased by 33 over the March-ended tally for all of Flagstar Bancorp. Still, staffing was down from the 2,741 reported as of June 30 last year.

Last month, Flagstar accounted for 100 bank branches — a decline from the 107 accounted for as of March 31.

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