Quarterly home lending volume jumped by over half from the prior period at Navy Federal Credit Union, while the mortgage servicing portfolio grew and mortgage staffing increased.
The financial institution serviced 242,448 residential loans for $49.499 billion as of June 30, expanding from a portfolio of 237,963 loans for $46.267 billion three months earlier.
The Vienna, Virginia-based
credit union reported the metrics, along with other operational data, as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
Navy FCU serviced
220,708 loans for $44.087 billion as of mid-year 2015.
The most-recent total included $24.291 billion in third-party servicing and $25.208 billion in owned assets.
Mortgage production during the latest three-month period totaled 13,261 loans funded for $3.493 billion.
Business picked up from the first quarter of this year, when 9,114 loans were closed for $2.276 billion.
In the second-quarter 2015, Navy FCU originated
14,207 loans for $3.661 billion.
Full first-half 2016 volume came to 22,375 units for $5.769 billion.
All originations were generated by retail loan officers.
As of mid-2016, there were 1,164 mortgage employees on the organization’s payroll.
Headcount was up by four people compared to March 31
and also expanded from 1,091 employees as of June 30, 2016.
