Impac Mortgage Holdings Inc. pushed up mortgage production from the previous period but saw the size of its servicing portfolio fall.
Residential loan originations totaled $0.465 billion from April 1 through June 30, Impac said in its second-quarter earnings report.
Business improved from the first quarter, when $0.353 billion in loans were closed.
But activity slumped from the three months ended June 30, 2013, a period that saw $0.780 billion in home loan production.
Full first-half 2014 mortgage originations added up to $0.818 billion.
Refinance share was cut to 47 percent in the latest three-month period from 58 percent in the first quarter.
“We believe the increase in purchase money transactions in the last two quarters was primarily a result of our recent focus in sales and operations to provide a better purchase transaction related customer service experience,” the report stated.
Third-party originations, including correspondent and wholesale volume, accounted for 97 percent of total activity, gaining on the 71 percent share in the first quarter.
Impac projects increased second-half originations by expanding its sales force and leveraging its warehouse business.
Impac finished June 2014 with a $1.572 billion mortgage servicing portfolio, down from $2.240 billion at the end of March and $2.110 billion at the same point last year.
Net income at the Irvine, Calif.-based company swung to a nearly $1 million profit from a $3 million first-quarter loss but fell from a more than $1 million profit in the second-quarter 2013.
