Mortgage production last year was down slightly at Finance of America Holdings LLC. Also lower was the servicing portfolio and headcount.
As of the end of 2017, the
Horsham, Pennsylvania-based business serviced 10,920 single-family loans with an aggregate unpaid principal balance of $2.039 billion.
Finance of America reported the details, as well as other operational data, as part of the Mortgage Daily Fourth Quarter 2017 Mortgage Origination Survey.
The servicing portfolio was trimmed from 11,115 loans for $2.096 billion as of Sept. 30 and was slashed from 18,402 residential loans for $4.011 billion as of year-end 2016.
All of the loans were serviced for third parties.
Finance of America reported fourth-quarter 2017 originations of 17,133 loans for $4.353 billion. The total included $3.095 billion from the retail channel and $1.258 billion from the wholesale channel.
Production was $17,073 loans for $4.468 billion three months earlier and 19,329 loans for $5.282 billion one year earlier.
Full-year 2017 production came to 64,116 loans for $16.505 billion compared to 62,742 loans for $18.285 billion during all of 2016.
There were 3,700 people on Finance of America’s payroll as of Dec. 31, 2017. Staffing subsided from 3,801 employees at the end of the third quarter
and 4,074 employees at the end of 2016.
