Among the first firms to report third-quarter mortgage originations was Guaranteed Rate Inc., and business was down. But servicing and staffing grew.
The Chicago-based company closed 14,419 residential loans for $4.484 billion in the three months ended Sept. 30.
Guaranteed Rate reported its mortgage production, as well as other operational metrics, as part of the Mortgage Daily Third Quarter 2015 Mortgage Origination Survey.
Activity declined from the prior three-month period, when 16,294 home loans were funded for $5.162 billion.
In the same three months last year, mortgage originations were 12,089 loans for $3.604 billion.
During the first nine months of this year, mortgage production came to
43,875 loans originated for $13.880 billion.
Third-quarter 2015 business included $4.303 billion in retail activity and $0.181 billion in correspondent acquisitions.
Guaranteed Rate said it serviced 26,639 loans for $6.524 billion as of Sept. 30.
The servicing portfolio expanded from 21,214 loans serviced for $5.002 billion as of June 30 and 11,466 loans serviced for $2.790 billion as of Sept. 30, 2014.
The most-recent period ended with a staff of 2,870 employees.
Headcount grew from 2,569 at the end of the second-quarter 2015 and
2,384 at the close of the third-quarter 2014.
