One mortgage lender has experienced record origination activity thanks to its correspondent division, while another lender that made a recent wholesale acquisition is also reporting record activity.
With residential originations of $2 billion during June, Freedom Mortgage Corp. said it achieved an all-time monthly high.
The Mount Laurel, N.J.-based company noted that approximately half of the record activity was generated through its correspondent lending division.
A recent news story from Bloomberg indicated that Freedom closed $3.8 billion during the first quarter, up 19 percent from the fourth-quarter 2013. Full-year 2013 production was $15 billion.
Freedom also said that it launched an in-house servicing operation and began servicing all newly originated loans in-house as of July 15. The Bloomberg story noted that the servicing portfolio has reached nearly $50 billion.
From Jan. 1 through July 31, Fairway Independent Mortgage Corp. reports that it funded $2.84 billion — putting it on track to fall short of the $5.53 billion closed during all of 2013.
Sun Prairie, Wis.-based Fairway reports headcount of more than 1,500 employees including 500 sales professionals. Branch count is at 150.
Mortgage originations at Commerce Mortgage have grown from $0.825 billion in 2010 to $1.8 billion last year, the company reported in May. Last year’s total was generated through the retail division. Since its founding in 1994 as BWC Mortgage Services, loan originations totaled $10 billion.
In Orlando, Fla., FBC Mortgage LLC said in July that it had record-breaking performance and growth during the previous several months — with June production coming in at 800 loans for $0.180 billion.
Most of FBC’s volume was generated from Florida. It expects to achieve $2 billion in full-year originations helped partly by the July 1 acquisition of a large wholesale team based in Jacksonville that is expected to increase business in the Northeast.
FBC, a Sterne Agee Group company, reports national headcount of 381.
More than $0.2 billion in peer-to-peer loans have been funded by National Family Mortgage since it launched in November 2010, a recent news release stated. Half of the activity occurred since July 2013.
GMH Mortgage Services LLC was recognized as a top-10 USDA Rural Development Guaranteed Rural Housing lender, the Conshohocken, Pa.-based company recently announced.
Second-quarter loan originations at Washington Federal of Seattle were $0.597 billion, up 45 percent from the first quarter, Inside Mortgage Finance reported. The same article indicated that Tysons Corner, Va.-based Cardinal Financial Corp. saw production jump 53 percent to $0.842 billion.
