Residential loan production moved lower at Quicken Loans Inc. even as the size of the company’s staff and servicing portfolio moved higher.
Home lending volume during the three months ended Sept. 30 came to $19.7 billion.
The Detroit-based firm reported the production data, along with other operational metrics, as part of the Mortgage Daily Third Quarter 2015 Mortgage Origination Survey.
Activity at Quicken slowed from the prior three-month period, when
$21.3 billion in loans were closed.
But business exceeded
the $16.1 billion funded during the third-quarter 2014.
For all nine months of 2015, the mega-lender’s production amounted to $60.4 billion.
Quicken, which began servicing home loans in 2010, said it serviced $186.5 billion as of Sept. 30, 2015.
The residential loan servicing portfolio increased from $176.7 billion three months earlier and $154.0 billion one year earlier.
Headcount at the mortgage banker closed out last month at 13,000 people.
Staffing increased from 12,000 as of June 30, 2015, and
11,000 as of Sept. 30, 2014.
