Annual home loan originations at Fairway Independent Mortgage Corp. moved up to the second-highest level on record.
For the three-month period ended Dec. 31, 2014, Fairway originated 8,288 residential loans at $1.720 billion.
The
Madison, Wis.-based firm provided the operational data as part of the Mortgage Daily Fourth Quarter 2014 Origination Survey.
The 7,704 loans at $1.632 billion from retail originations provided the bulk of production.
Still, the wholesale division delivered 426 new loans at $0.070 billion, while 98 loans came through correspondent channel at $0.018 billion.
The lender reported that its full-year loan volume finished 2014 at $5.63 billion — placing Fairway $0.100 billion ahead of annual production for 2013.
Historical data from Fairway indicates that since 2001,
mortgage production has only been higher in 2012, when $6.00 billion was funded.
Fairway finished the fourth quarter with 7,593 loans serviced at $1.517 billion.
Third-party servicing accounted for $1.515 billion of the total servicing portfolio, while just $0.003 billion was in its investment portfolio.
Employee totals came out to 2,041 when December 2014 ended, increasing from more than 1,500 at the end of 2013.
The mortgage provider, which opened its first branch in 1996, reports that more than 25 percent of employees are sales professionals who work from more than 150 nationwide branches.
