Despite a modest improvement in correspondent mortgage originations, overall mortgage production was slower at BOK Financial Corp. Staffing and servicing, however, edged higher.
Residential loan originations from Jan. 1 until March 31 totaled 5,678 units for $1.006 billion, according to data provided as part of Mortgage Daily’s quarterly origination survey.
New business was off from the previous three-month period, when BOK originated 6,291 loans for $1.125 billion.
Like many of its competitors, however, the Tulsa, Okla.-based lender was able to lift activity from the same period in 2012, when fundings amounted to $0.814 billion.
First-quarter 2013 volume included $0.809 billion closed by retail originators. Retail business slowed from $0.967 billion in the prior period.
But correspondent activity strengthened, rising to $0.197 billion from $0.158 billion.
BOK’s mortgage servicing portfolio inched higher, to 104,298 loans for $13.366 billion as of March 31 from 103,040 loans for $13.091 billion at the end of last year.
First-quarter servicing included $1.093 billion in portfolio servicing and $12.273 billion in third-party servicing.
The mortgage staff at BOK increased to 678 employees as of March 31 from 650 people as of Dec. 31, 2012.
