Guaranteed Rate Reports Growth on All Fronts

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MORTGAGE EXPERT
7 · 20 · 15

Residential loan originations increased at Guaranteed Rate Inc. In addition, the company added to its mortgage servicing portfolio and expanded staffing.

Home lending activity at the
Chicago-based mortgage banker during the three months ended June 30 came in at 16,294 loans for $5.162 billion.

The mortgage production details, as well as other operational metrics, were provided as part of Guaranteed Rate’s participation in the Mortgage Daily Second Quarter 2015 Mortgage Origination Survey.

Business was better than in the first quarter, when residential loan originations were previously reported at 13,162 loans for $4.234 billion.

Activity, which was all generated from the retail channel, also accelerated from the second-quarter 2014, when
10,919 residential loans were closed for $3.180 billion.

The latest originations brought total first-half 2015 volume to 29,456 loans for $9.396 billion.

Guaranteed Rate serviced 21,214 home loans for $5.002 billion as of mid-2015, according to the survey.

The mortgage servicing portfolio expanded compared to the end of March, when 16,970 loans were serviced for $4.213 billion.

The portfolio stood at
12,512 loans at $3.003 billion as of June 30, 2014.

Guaranteed Rate said all of its loans are serviced for investors.

Moving on to staffing, the lender finished the latest three-month period with 2,569 employees.

Headcount
increased from 2,479 employees three months earlier and 2,500 one year earlier.

Author

Mortgage Daily Staff

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