In addition to lifting home lending on a quarter-over-quarter basis, Finance of America Holdings LLC managed to maintain mortgage production on a year-over-year basis.
As of mid-year 2017, Finance of America serviced 11,338 loans with a collective unpaid principal balance of $2.155 billion. The portfolio receded from 15,514 loans for $3.272 billion three months earlier.
Those details and more were revealed as part of the the
Horsham, Pennsylvania-based firm’s participation in the
Mortgage Daily Second Quarter 2017 Mortgage Origination Survey.
As of mid-2016, Finance of America serviced 11,164 loans for $2.165 billion.
All of the loans were serviced for third parties.
Residential loan originations climbed to 16,748 loans for $4.344 billion during the three months ended June 30, 2017. Volume, which is made up of forward and reverse mortgages, consisted of $3.289 billion in retail originations and $1.055 billion in wholesale lending.
Including the 13,162 loans closed for $3.341 billion in the first quarter, there were 29,910 loans funded for $7.685 billion during the entire first half of this year.
Mortgage production was
14,939 loans for $4.411 billion in the second-quarter 2016.
Staffing concluded last month at 3,749, twenty fewer people than at the end of March. But headcount was up by 205 employees since June 30, 2016.
