An expansion in the size of its residential loan servicing portfolio was reported by Quicken Loans Inc. Originations, meanwhile, retreated.
The total mortgage servicing portfolio at the Detroit-based lender was
$251.0 billion at the conclusion of the three months ended March 31.
Quicken delivered the number, plus other operational metrics, as part of the Mortgage Daily First Quarter 2017 Mortgage Origination Survey.
The portfolio grew from the end of last year, when $241.9 billion in mortgages were serviced, and the same point last year, when $204.5 billion in loans were serviced.
Quicken closed $18.6 billion during the three months ended March 31, 2017.
New business tumbled from $26.9 billion in the preceding three months and eased from $19.4 billion during the same three months in 2016.
Staffing concluded last month at 16,000. There were the same number of people on Quicken’s payroll as of Dec. 31, 2016, and a thousand more than as of March 31, 2016.
