Home-lending activity slowed on a quarter-over-quarter basis at Primary Residential Mortgage Inc., though year-over-year production held up.
As of March 31, 2017, the Salt Lake City-based firm serviced 13,868 home loans that had an aggregate unpaid principal balance of $2.521 billion.
Those details, along with other operational metrics, were provided as part of the
Mortgage Daily First Quarter 2017 Mortgage Origination Survey.
PRMI’s servicing portfolio expanded from 13,307 mortgages for $2.444 billion as of year-end 2016. It was also greater than 11,064 loans for $2.165 billion at the same point last year.
Last month’s servicing portfolio included $0.002 billion in loans owned by the company and $2.519 billion in third-party servicing.
Mortgage production during the latest three-month period came to 5,267 loans for $1.136 billion.
Business slowed from the fourth-quarter 2016, when
PRMI funded 7,012 mortgages for $1.547 billion. But activity was barely changed from 5,689 loans closed for $1.190 billion during the first-quarter 2016.
All of PRMI’s originations are generated through the retail channel.
Headcount concluded last month at 2,050 people.
Staffing subsided from 2,054 employees as of Dec. 31, 2016. But there were more people on the payroll than the 1,957 as of March 31, 2016.
