Home lending activity increased at Navy Federal Credit Union, while the servicing portfolio grew and mortgage staffing expanded.
Third-quarter residential loan originations totaled 9,945 mortgages for $2.424 billion.
The operating statistics were among those provided as part of the Mortgage Daily Third Quarter 2014 Mortgage Origination Survey.
Business at the Vienna, Va.-based company leapt from the previous period, when 7,641 loans were closed for $1.828 billion.
In the three months ended Sept. 30, 2013, mortgage production at Navy FCU was $2.995 billion.
From Jan. 1 through Sept. 30 of this year, loan fundings amounted to 22,914 loans for $5.520 billion.
All of Navy FCU’s business is generated through the retail origination channel.
The financial institution serviced 202,145 loans for $39.531 billion as of the end of the third quarter. The total included $20.371 billion in third-party servicing and $19.160 billion in loans held for investment.
Navy FCU’s total servicing portfolio grew from 196,781 loans for $38.244 billion as of June 30.
Mortgage staffing finished September at 929 employees.
The credit union’s headcount increased from 916 as of the end of the second quarter.
