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Business Inches Higher at USA Mortgage

Quarterly home loan originations at USA Mortgage moved higher thanks to stronger retail volume. In addition, staffing continued to expand.

During the three months ended June 30, the St. Louis-based firm closed 2,412 loans for $0.407 billion, according to Mortgage Daily’s second-quarter origination survey.

USA Mortgage lifted production from the first quarter, when 2,306 loans were funded for $0.395 billion.

Business was also better than the same period last year, when originations amounted to 2,225 loans for $0.379 billion.

During the first six months of 2013, volume totaled 4,718 loans for $0.801 billion.

Retail originations accounted for most of the latest period’s activity, rising to $0.406 billion from $0.394 billion in the first quarter.

Wholesale volume increased to a little more than $0.001 billion in the second quarter from a little less than $0.001 billion in the previous period.

Staffing at USA Mortgage ended last month at 478 employees.

Headcount inched up from 471 three months earlier and 392 a year earlier.

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