For the third consecutive quarter, residential loan production at Navy Federal Credit Union has increased over the prior period. Servicing also made gains, but staffing lost ground.
Navy Federal funded 10,137 home loans at $2.496 billion in the three-month period ended Dec. 31, 2014.
All loans, reported through the Mortgage Daily Fourth Quarter 2014 Mortgage Origination Survey, were originated through the retail channel.
In the third quarter, the lender originated 9,945 mortgages for $2.424 billion.
Navy Federal saw fourth-quarter 2013 production hit 7,482 loans at $1.788 billion.
Altogether, Navy Federal produced 33,051 new home loans at $8.016 billion from Jan. 1 to Dec. 31 of 2014.
At the end of 2014, the credit union serviced 207,768 loans totaling $40.847 billion. Of this, $20.280 billion were owned loans, and the remaining $20.567 billion was serviced for investors.
Navy Federal’s servicing portfolio stood at $39.531 billion as of Sept. 30 and $36.970 billion as of the end of 2013.
The 919 mortgage employees reported as of Dec. 31 of last year was a decrease from the 929 accounted for as the third quarter came to a close.
The Vienna, Va.-based lender had 125 more employees than at the end of 2013.
