Quarterly mortgage production moved lower at United Shore Financial Services LLC, with direct and indirect business falling. But annual activity turned higher.
During the three months ended Dec. 31, the Birmingham, Mich.-based firm originated 8,444 residential loans for $1.848 billion, according to the Mortgage Daily Fourth Quarter 2013 Mortgage Origination Survey.
Business slumped compared to the third quarter, when United Shore closed 11,496 loans for $2.467 billion.
Activity was also down from the 16,555 units funded for $2.982 billion in the fourth-quarter 2012.
From Jan. 1 through Dec. 31, production totaled 46,427 loans for $10.267 billion. Annual activity was up from 37,226 loans originated for $7.076 billion during all of 2012.
Fourth-quarter 2013 volume included $0.135 billion in retail originations, down from $0.182 billion in the prior period.
The wholesale channel generated $1.713 billion in new business, retreating from $2.285 billion.
United Shore didn’t report a mortgage servicing portfolio.
Staffing at the lender stands at more than 1,200 employees, according to its website, the same as three months earlier.
Headcount was 1,080 at the end of 2012.
