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Guaranteed Rate Originations Up from Year Earlier

Mortgage News

Guaranteed Rate Inc. made year-over-year gains in quarterly mortgage production and quarter-over-quarter gains in servicing.

Last year’s fourth-quarter residential production came to 11,225 loans funded for $3.472 billion, according to data Guaranteed supplied in the Mortgage Daily Fourth Quarter 2014 Mortgage Origination Survey.

All loans in this total were generated through the company’s retail channel.

Business slipped from the period from July 1 to Sept. 30, when the home loan provider originated 12,089 loans at $3.604 billion.

However, the most recent loan production numbers showed Guaranteed with $0.680 billion more in originations than in the fourth-quarter 2013

Still, lending was down based on a full-year comparison, with the twelve-month origination total for last year amounting to 41,665 loans at $12.352 billion compared to 55,074 loans produced for $15.859 billion in all of 2013.

In servicing, Guaranteed’s portfolio ended last year at 13,269 loans for $3.252 billion, which was up from the 11,466 loans serviced at $2.790 billion as of Sept. 30.

At the end of 2013, the Chicago-based firm serviced 16,717 loans at $4.011 billion.

The majority of the most-recent servicing portfolio included $3.251 billion in loans serviced for investors while less than $0.001 billion were owned loans.

With staffing, Guaranteed finished the year with 2,361 employees — 23 fewer than reported as of Sept. 30.

Headcount was 330 less than accounted for on Dec. 31, 2013.

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