Compared to the previous three-month period and the year-earlier quarter, home-lending activity at Churchill Mortgage Corp. was stronger. Staffing is shrinking, though.
The first half of this year ended with the Brentwood, Tennessee-based firm servicing three loans with an aggregate unpaid principal
balance of under $0.001 billion.
Churchill divulged the details, in addition to other operational metrics, as part of the Mortgage Daily Second Quarter 2017Â Mortgage Origination Survey.
While the servicing portfolio was little changed from March 31, it was substantially less than 15 loans serviced for $0.002 billion as of June 30, 2016.
All of the serviced loans are owned by Churchill.
During the three months ended mid-2017, there were 1,672 single-family loans originated for $0.358 billion. Results improved from 1,305 loans closed for $0.262 billion in the first quarter and 1,912 mortgages funded for $0.391 billion in the second-quarter 2016.
Full first-half 2017 production came to 2,977 loans for $0.620 billion.
Staffing was trimmed to 362 people as of June 30, 2017, from 370 employees three months earlier
and cut from 394 as of the middle of last year.
