Substantial Improvement in REMN Production

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MORTGAGE EXPERT
7 · 29 · 13

New business was up nearly a fourth at Real Estate Mortgage Network Inc. Also growing were the company’s mortgage servicing portfolio and staffing.

Second-quarter mortgage production was 7,599 units funded for $1.830 billion, the Edison, N.J.-based firm reported to Mortgage Daily.

Business substantially improved from the first quarter, when 6,311 loans were originated for $1.480 billion.

First-half volume at REMN totaled 13,910 home loans for $3.309 billion.

The retail channel generated $0.858 billion of second-quarter originations.

Wholesale production from mortgage brokers accounted for $0.969 billion of the most recent activity.

REMN said that it serviced 35,132 residential loans for $7.221 billion as of June 30.

Three months earlier, the servicing portfolio stood at 30,170 loans for $6.114 billion, while the portfolio was reported at $3.0 billion as of May 31, 2012.

At the end of the second quarter, 1,340 people were on staff at REMN.

Headcount was up from 1,291 as of the close of the first quarter.

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Mortgage Daily Staff

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