Staff, Servicing, 2015 Home Lending Up at Navy FCU

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MORTGAGE EXPERT
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While quarterly home lending fell at Navy Federal Credit Union, annual production expanded as did servicing and staffing.

Mortgage originations came to 10,624 home loans closed for $2.670 billion during the final three months of last year.

Navy FCU disclosed operational data as part of the Mortgage Daily Fourth Quarter 2015 Mortgage Origination Survey.

Busies decelerated from the previous
quarter
, when 13,477 loans were funded for $3.442 billion.

Loan production was an improvement, however, from 10,137 mortgages originated for $2.496 billion during the final three months of 2014.

For all four quarters of 2015, the Vienna, Virginia-based company closed 48,146 loans for $12.261 billion.

Full-year volume
soared from 33,051 mortgages funded for $8.016 billion during 2014.

All of Navy FCU’s originations are generated through the retail channel.

As of Dec. 31, 2015, the credit union serviced 233,782 loans for $47.437 billion.

Navy FCU’s total servicing portfolio grew from 228,327 loans serviced for $46.071 billion as of three months earlier.

It also expanded from 207,768 loans serviced for $40.847 billion as of Dec. 31, 2014.

The most-recent servicing total was comprised of $24.501 billion in loans owned by the financial institution and $22.936 billion in loans serviced for third parties.

Mortgage staffing finished last year at
1,112 people, more than the 1,073 employees on the payroll as of Sept. 30, 2015.

As of Dec. 31, 2014, headcount came in at
919.

Author

Mortgage Daily Staff

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