Quarterly home lending contracted at Alaska USA Federal Credit Union, while the size of the firm’s mortgage staff was trimmed.
The financial institution closed 1,058 residential loans for $0.252 billion from Oct. 1 through Dec. 31 of last year.
That was according to data that was provided as part of the Mortgage Daily Fourth Quarter 2015 Mortgage Origination Survey.
Loan production diminished compared to the third quarter, when 1,327 loans were originated for $0.331 billion.
Activity also eased from the fourth-quarter 2014,
when 1,115 mortgages were originated for $0.267 billion.
For all of last year, mortgage originations came to 4,736 loans for $1.170 billion,
more than the 4,304 mortgages closed for $1.024 billion during all of 2014.
All of Alaska USA’s business was generated through the retail channel.
The credit union reported that it serviced
27,653 loans for $5.184 billion as of December 31, 2015.
The servicing portfolio increased from 27,532 loans for $5.153 billion three months earlier and
26,838 loans for $4.925 billion a year earlier.
Third-party servicing made up
$4.857 billion of the latest numbers.
Alaska USA finished last year with 223 mortgage employees on the payroll.
Staffing within the residential division was trimmed by seven employees compared to Sept. 30, 2015, but expanded from 211 people as of Dec. 31, 2014.
