Residential mortgage production grew by half last year at Mortgage Master Inc., with business surging during the final three-month period. Quarterly activity was also better as the company grew its headcount.
The Walpole, Mass.-based firm reported that it originated 6,858 residential loans for $2.105 billion during the fourth-quarter 2012.
Business strengthened from the third quarter, when production amounted to 6,299 loans for $1.946 billion.
All of Mortgage Master’s business is originated through the retail channel.
For all of last year, the company originated 23,809 loans for $7.306 billion.
Annual activity picked up from 2011, when Mortgage Master funded around $5.5 billion in home loans.
Staffing increased to 705 employees as of Dec. 31, 2012, from 625 people three months earlier.
Mortgage Master announced last August that it enhanced its operating infrastructure with a new operations center in Maitland, Fla. In addition, it expanded operations in New Jersey and at its headquarters.
“Over the last 12 months, Mortgage Master has added over 120 employees, many of whom will offer operations support to help bolster Mortgage Master’s elite retail sales force,” the August announcement said. “The company continues to hire processors and underwriters, as well as established loan officers, to further enhance its operational excellence and grow its retail production platform.”
