Quarterly and annual mortgage production fell from the prior period at Alaska USA Federal Credit Union. Servicing and staffing, meanwhile, were little changed.
As of year-end 2016, the
Anchorage, Alaska-based organization serviced 27,694 residential loans with a collective principal balance of $5.259 billion.
Those details, as well as other operational statistics, were presented as part of the
Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
The credit union’s servicing portfolio
was very close in size to the 27,669 loans serviced for $5.243 billion as of Sept. 30, 2016, and 27,653 loans serviced for $5.184 billion as of Dec. 31, 2015.
The latest portfolio consisted of $4.921 billion in third-party servicing and $0.338 billion in owned loans.
Moving on to mortgage production, 1,198 residential loans were closed for $0.296 billion during the three months ended Dec. 31, 2016.
Business declined from 1,336 loans funded for $0.336 billion in the third quarter but crept up from 1,058 loans originated for $0.252 billion in the fourth-quarter 2015.
All of Alaska USA’s home lending was generated through the retail channel.
During all four quarters of last year, mortgage originations came to 4,520 loans for $1.135 billion.
Activity escalated from 4,736 loans closed for $1.170 billion in 2015.
Last year closed out with a mortgage staff of 232 people, one less than at the end of September. But headcount was up nine employees from year-end 2015.
