Stearns Lending Inc. has grown its mortgage servicing portfolio and expanded its staffing. Loan originations have more than doubled over the past year.
During the first three months of 2015, residential loan originations totaled 25,026 mortgages closed for $6.460 billion.
Stearns disclosed the production data, as well as other operational metrics, in the Mortgage Daily First Quarter 2015 Mortgage Origination Survey.
Business improved from the final three months of last year, when 20,454 loans were funded for $5.266 billion.
Home lending activity has more than doubled compared to the first-quarter 2014, a period that saw 9,835 loans originated for $2.481 billion.
First-quarter 2015 volume was comprised of $1.233 billion in retail production, $3.474 billion in wholesale lending and $1.753 billion in correspondent acquisitions.
Stearns serviced 134,956 home loans for $30.527 billion as of March 31, 2015.
The Santa Ana, California-based company’s servicing portfolio has grown from 128,015 loans for $29.480 billion three months earlier and 111,399 loans for $25.964 billion a year earlier.
Staffing expanded to 1,721 employees as of the end of the most-recent period from 1,718 as of the end of last year.
Headcount was just 1,411 as of March 31, 2014.
