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Host of Firms Report Mortgage Originations

Residential loan origination data was recently released for a host of small to mid-sized mortgage firms. Included among the companies are several billion-dollar producers.

United Wholesale Mortgage issued a statement Thursday claiming that it was the second-biggest non-bank originator of purchase-money mortgages during the second quarter.

Total volume at the Pontiac, Michigan-based firm during the period was reported at $11.2 billion. Purchase financing accounted for $8.3 billion of the total.

UWM’s overall business jumped from $8.1 billion in the first quarter. Full-year 2018 volume at the 2,700-employee firm is expected to reach $40 billion.

Fairway Independent Mortgage Corp. reports that it originated $18.274 billion during the eight months ended Aug. 31. Staffing at the Madison, Wisconsin-based company exceeds 7,000.

During 2017, New American Funding closed 38,550 loans for more than $10.179 billion, according to a recent news release. Staffing stands at 2,800, and branch count exceeds 145.

Second-quarter non-QM originations at Angel Oak Companies and its affiliates were $0.512 billion, a July 23 statement said. Business was up from roughly $337 billion three months earlier and $269 billion one year earlier. Staffing at the Atlanta-based firm grew to 527 people from 423 as of March 31.

The California Housing Finance Agency
recently reported that it closed more than 7,400 first-time buyer mortgages for more than $2 billion during its fiscal-year 2017-2018.

First-quarter mortgage originations were $0.400 billion in non-agency loans at Verus Mortgage Capital, a press release earlier this year said.
Volume since the Washington-based company was founded in 2015 came to nearly $2 billion.

LoanStar Home Lending reported earlier this year that it closed over $1 billion in residential loan during the past two years.

Marketplace lender LendingHome reported on Aug. 28 that it has originated more than 29,000 home loans for $3 billion since opening in mid-2014. The San Francisco-based company noted that 14,000 loans for $1 billion were closed in just the eight months ended July 31.

York Traditions Bank out of York, Pennsylvania, reported earlier this year that it has funded almost 5,500 loans since launching its mortgage division in January 2010.

Data reported by Scotsman Guide indicate that full-year 2017 mortgage production was 61,564 loans for $16.262 billion at Stearns Lending LLC; 49,203 loans for $13.609 billion at Homebridge Financial Services Inc.; 57,628 loans for $12.944 billion at Movement Mortgage LLC; and 57,504 loans for $12.865 billion at Pacific Union Financial.

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