Though McLean Mortgage Corp. saw a slight bump in the number of loans produced last quarter, the dollar amount slipped just below the prior period’s.
In the three months ended Dec. 31, McLean produced 1,135 retail-originated loans at $0.377 billion.
The Fairfax, Va.-based firm provided this information through its participation in the Mortgage Daily Fourth Quarter 2014 Mortgage Origination Survey.
McLean, which recently celebrated its seventh anniversary as a mortgage lender, closed four more loans than in the third quarter.
Despite this increase, the fourth-quarter origination amount was $0.002 billion less than the prior period.
Still, recent quarterly originations finished ahead of the 818 loans closed at $0.2770 billion in the fourth-quarter 2013.
Altogether, McLean’s production total for all 12 months of last year was 3,991 loans closed for $1.332 billion — short of the record $1.504 billion in 2013 volume.
“This level of closings was achieved despite the fact that the Mortgage Bankers Association indicated residential loan volumes for the industry dropped approximately 40 percent in 2014 when compared to 2013,” a company statement said.
Employee headcount remained steady at 230 as of the last day of 2014. This number was the same as the prior quarter ended and slightly ahead of the 214 reported at the end of 2013.
McLean said it plans to continue expanding its footprint in the Atlantic Region and is interviewing branch managers and loan officers.
