Quarterly mortgage production turned lower at United Shore Financial Services LLC, and staffing was also down. Year-over-year metrics, however, expanded.
During the three months ended Sept. 30, the Birmingham, Mich.-based company originated 11,496 home loans for $2.467 billion, according to the Mortgage Daily Third Quarter 2013 Origination Survey.
Activity slowed from the previous period, when 14,059 residential loans were funded for $3.192 billion.
But business improved from the third-quarter 2012, when United Shore closed 9,906 loans for $2.019 billion.
Mortgage production during the first nine months of 2013 amounted to 37,983 units for $8.419 billion.
Third-quarter 2013 originations included $0.182 billion in loans originated through the retail channel and $2.285 billion in wholesale production.
United Shore again declined to report its mortgage servicing portfolio.
As of the end of the third quarter, 1,200 employees worked for the company.
Staffing subsided from 1,218 people at the end of the second quarter but has grown substantially from headcount of 821 as of Sept. 30, 2012.
