New quarterly business moved modestly higher at Quicken Loans Inc., as did the company’s mortgage servicing portfolio. No change was reported in company-wide staffing.
When the first-half of this year concluded, Quicken serviced $296.1 billion in home loans, according to data submitted as part of the Mortgage Daily Second Quarter 2018 Mortgage Origination Survey.
The mortgage servicing portfolio at the Detroit-based mortgage banking firm was larger than as of March 31, when it serviced $287.4 billion, and as of mid-2017, when the portfolio stood at $259.0 billion.
Quicken’s residential loan originations totaled $21.2 billion, slightly more than the $21.0 billion in retail originations reported by Wells Fargo & Co. However, Quicken also originates through the wholesale and correspondent channels but has ignored Mortgage Daily’s requests to clarify how much of its production comes from third-party originations.
From Jan. 1 through June 30, Quicken’s mortgage production amounted to $41.7 billion.
As of mid-2018, there were 17,000 people on the lender’s payroll, the same as at the end of the first quarter. A year earlier, headcount was 16,000.