The servicing portfolio expanded on a quarter-over-quarter and year-over-year basis at Guild Mortgage Co. as year-to-date originations reached an all-time high.
San Diego-based Guild reported that it serviced 182,560 loans with an aggregate unpaid principal balance of $36.540 billion as of Sept. 30.
Guild previously reported a servicing portfolio of
146,026 loans for $27.876 billion at the same point last year.
Single-family production came to 18,797 loans for $4.398 billion during the third quarter of this year.
Retail made up $4.141 billion, and correspondent acquisitions were $0.257 billion.
Overall business was modestly more than the 18,353 loans closed for $4.228 billion in the previous three-month period and 20,370 loans for $4.709 billion the same three months last year.
So far this year, Guild has originated 50,722 loans for $11.673 billion.
A news release from the mortgage banking firm indicated that year-to-date volume
was an all-time record.
Purchase financing made up $9.5 billion and refinancing accounted for $2.2 billion.
“The Southeast region led with 26.8 percent growth and had the lowest average loan size of $174,507,” Guild President and Chief Executive Officer Mary Ann McGarry said in the statement. “Compare that with our California Coastal Region, with an average loan size of $282,725, or Northwest, close behind at $279,947. We are optimistic about future growth in all areas based on continued strengths in the regional economies and more millennials reaching the age when they are in a position to consider buying a home instead of renting.”
Staffing was trimmed to 3,937 employees from 4,012 three months earlier. Headcount was higher, though, than
3,335 people at the conclusion of September 2016.