Although there was a quarter-over-quarter decline in lending volume at Primary Residential Mortgage Inc., employee count and servicing expanded.
The Salt Lake City-based business serviced 13,307 residential loans with an aggregate unpaid principal balance of $2.444 billion as of year-end 2016.
PRMI reported the metrics, along with other operational data, as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
The servicing portfolio grew from 13,045 loans for $2.418 billion three months earlier and
10,992 mortgages for $2.175 billion as of a year earlier.
Third-party servicing accounted for $2.442 billion of last month’s total.
Home-lending volume came to 7,012 mortgages for $1.547 billion during the period that began on Oct. 1, 2016, and concluded on Dec. 31.
Business slowed from the third quarter, when 8,185 loans were closed for $1.802 billion.
But activity accelerated from 6,140 loans funded for $1.317 billion in the fourth-quarter 2015.
From Jan. 1, 2016, through year-end 2016, mortgage originations added up to 28,885 loans for $6.264 billion.
As of the close of the fourth-quarter 2016, there were 2,054 people on PRMI’s payroll. Headcount was up from 2,047 employees at the end of September and
1,943 at the end of 2015.
