Despite a quarter-over-quarter production slump at Quicken Loans Inc., annual originations increased. Also growing was the size of the company’s mortgage servicing portfolio.
For the three-month period that started on Oct. 1, 2015, and ended on Dec. 31, mortgage originations were $18.5 billion.
The lending details and other operational statistics were provided as part of Quicken’s participation in the
Mortgage Daily Fourth Quarter 2015Â Mortgage Origination Survey.
Business at the Detroit-based entity slipped from the third quarter, when production totaled $19.7 billion.
Activity also descended from the final quarter of 2014, when $18.6 billion was closed.
The latest volume brought full-year 2015 production to $78.9 billion.
Annual
originations ascended from 2014, when Quicken funded $59.0 billion.
As of Dec. 31, 2015, Quicken serviced $195.6 billion in residential loans.
The mortgage servicing portfolio grew from $186.5 billion three months earlier and $161.1 billion
one year earlier.
Staffing at the mortgage banking firm finished last year at 13,000 employees, the same as at the end of September.
But Quicken’s payroll grew from Dec. 31, 2014, when headcount was 12,000 people.
