Annual home-loan production at Fremont Bank nearly doubled compared to 2011. The bank also expanded its mortgage staffing, though its mortgage servicing portfolio contracted.
From Oct. 1, 2012, until Dec. 31, 2012, the Fremont, Calif.-based company closed 7,221 home loans for $1.890 billion, according to operational data supplied to Mortgage Daily.
Business was better than during the prior three-month period, when originations amounted to 6,886 loans for $1.782 billion.
Mortgage production also picked up from the final quarter of 2011, when Fremont funded $1.316 billion.
Retail production accounted for $1.300 billion of fourth-quarter 2012 volume, while wholesale activity was $0.590 billion.
Full-year 2012 originations totaled $7.000 billion, nearly doubling the $3.930 billion closed during all of 2011.
Fremont said it serviced 50,890 residential loans for $8.473 billion as of Dec. 31, 2012.
The number of loans serviced increased from 49,574 loans as of Sept. 30, 2012, but the dollar amount was off from $9.285 billion.
Staffing finished last year at 454 mortgage employees, growing from 320 employees three months earlier.
