Quarterly home lending activity increased at Guild Mortgage Co., and the gain came solely from the correspondent channel. Staffing and servicing also grew.
Residential loan originations during the third quarter at Guild totaled 17,423 loans for $3.952 billion.
The San Diego-based company reported the details, as well as other operational data, as part of the Mortgage Daily Third Quarter 2015 Mortgage Origination Survey.
Business improved from the previous quarter, when 16,687 home loans were closed for $3.827 billion.
Activity also accelerated compared to the same quarter in 2014, when Guild funded 9,738 mortgages for $2.065 billion.
From Jan. 1 through Sept. 30 of 2015, mortgage production amounted to 46,444 loans for $10.629 billion.
Third-quarter 2015 volume included $3.134 billion in retail originations, off three percent from the prior quarter, and $0.003 billion in wholesale business, sinking 81 percent from the second quarter.
But correspondent acquisitions surged 39 percent on a quarter-over-quarter basis
to $0.815 billion.
Also contributing to origination growth were last year’s acquisitions.
“The addition of Comstock Mortgage in Sacramento and Northwest Mortgage Group based in Portland boosted market share in those regions,” Guild President and Chief Executive Officer Mary Ann McGarry said in a news release.
McGarry projects that full-year 2015 volume will reach $12 billion.
Purchase financing accounted for
$7.5 billion of year-to-date volume.
Guild said it serviced 115,005 home loans for $20.752 billion as of Sept. 30, 2015.
The servicing portfolio grew from 106,282 loans for $18.939 billion three months earlier and
90,744 mortgages for $15.848 billion a year earlier.
The most-recent number was comprised of $1.382 billion in loans owned by the company and $19.369 billion in mortgages serviced for third parties.
Headcount finished last month at 2,704 people. Staffing expanded from 2,553 employees at the end of the second quarter and
1,938 people as of the close of the third-quarter 2014.
Branch count finished the third-quarter 2015 at 234, with offices located in 25 states.
