Even though home-loan production was down on a quarter-over-quarter basis at Guild Mortgage Co., the lender’s residential loan servicing portfolio continued to expand.
During the first-three months of this year, mortgage originations totaled
11,855 loans for $2.703 billion.
The San Diego-based firm disclosed the data, in addition to other operational metrics, as part of the Mortgage Daily First Quarter 2016 Mortgage Origination Survey.
Business slowed from 13,887 loans funded for $3.171 billion during the three months ended Dec. 31, 2015.
Activity also eased compared to the first-quarter 2015, when there were 12,334 loans closed for $2.850 billion.
First-quarter 2016 production included $2.536 billion in retail originations and $0.167 billion in correspondent acquisitions.
Guild serviced 127,550 home loans for $25.539 billion as of the end of last month.
The servicing portfolio
expanded from 121,926 loans serviced for $22.300 billion as of Dec. 31, 2015, and 99,065 mortgages for $17.463 billion as of March 31, 2015.
The March 31, 2016, servicing portfolio included $22.156 billion serviced for third parties.
Headcount closed out the first-quarter 2016 at 2,784 people.
stood at 2,345 employees as of the same date last year.