Of lenders covered to date by Mortgage Daily, a Tukwila, Wash.-based financial institution became the first credit union this quarter to see positive year-over-year origination growth. Loan servicing and employee count also jutted ahead.
Solely through retail lending activity, BECU originated 2,138 residential home loans at $0.483 billion in the second quarter.
With this recent volume, which was reported in the Mortgage Daily Second-Quarter 2014 Origination Survey, the mortgage provider more than doubled its $0.239 billion, first-quarter originations.
Altogether, BECU closed 3,186 loans at just under three-quarters of a billion dollars from Jan. 1 through June 30.
With this period’s origination totals at 9 percent more than in second-quarter 2013, BECU joined a handful of lenders that reported positive year-over-year gains in loan activity to Mortgage Daily.
The financial entity, as of June 30, reported a servicing portfolio 37,467 loans at $6.496 billion.
Of this total, the credit union serviced 17,925 loans for $2.911 billion that it owned, while third-party servicing accounted for 19,542 loans at $3.585 billion.
Ending March 31, BECU’s total servicing portfolio stood at $6.482 billion.
Total servicing was at $6.271 billion when June closed last year.
There were 112 mortgage employees reported on staff when the second quarter ended.
The recent BECU headcount gave the credit union 14 more staff members than when the first quarter closed.
The lender had 97 people reporting to work last year when June 30 came around.
