Quicken Loans Inc. reached a milestone in residential loan servicing, added over a thousand employees and stood alone in its quarter-over-quarter increase in lending volume.
For the period that began on Jan. 1 and ended on March 31, mortgage production totaled $19.4 billion.
Business increased from the fourth quarter, a period that saw $18.5 billion in home lending.
The data, along with other operational metrics, were provided by the Detroit-based firm as part of the Mortgage Daily First Quarter 2016 Mortgage Origination Survey.
Quicken was the only one among its top-five peers to have a quarter-over-quarter improvement based on quarterly origination data maintained by Mortgage Daily.
The company, which has gotten a lot of attention from its Rocket Mortgage marketing campaign, matched production from the first-quarter 2015.
As of March 31, 2016, Quicken serviced $204.5 billion in mortgages.
It was a milestone for the mortgage banker — passing $200 billion in servicing for the first time.
The mortgage servicing portfolio was $195.6 billion as of the end of last year and $167.1 billion as of the same date last year.
Moving on to human resources, there were 15,000 people on the payroll as of the end of last month.
Staffing
was up a stunning 2,000 “team members” from year-end 2015.
Quicken previously disclosed headcount of 12,000 as of March 31, 2015.
