Although quarterly loan production and staffing descended at Stonegate Mortgage Corp., the lender managed to grow its mortgage servicing portfolio.
The Indianapolis-based organization closed 8,659 residential loans for $1.941 billion during the three months ended March 31.
Business was down from the final-three months of last year, when mortgage production came to
10,567 loans for $2.395 billion.
Stonegate revealed the data, along with other operational results, as part of the Mortgage Daily First Quarter 2016 Mortgage Origination Survey.
Lending also retreated from the first quarter of last year, a period that saw
11,907 residential loans funded for $2.838 billion.
First-quarter 2016 activity included $0.215 billion in retail originations, $0.428 billion in wholesale lending and $1.298 billion in correspondent acquisitions.
Stonegate reported a mortgage servicing portfolio of 93,449 loans for $18.068 billion.
But unlike originations, servicing grew compared to the fourth-quarter 2015, when
90,408 home loans were serviced for $17.521 billion.
Servicing also expanded from
93,150 loans for $16.965 billion as of March 31, 2015.
Staffing at Stonegate ended March 2016 at 869 employees.
The home lender reduced headcount from the end of last year, when it stood at 930 people, and the same point last year, when there were 1,270 employees on the payroll.
