Quarterly home-lending activity receded at Churchill Mortgage Corp. as the residential servicing portfolio held steady. But the company increased its headcount.
As of Dec. 31, 2016, the Brentwood, Tennessee-based organization serviced two home loans that had an aggregate principal balance of less than $0.001 billion.
Churchill delivered the metrics, in addition to other operational statistics, as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
The servicing portfolio was no different than as of Sept. 30, 2016. But a decline was experienced versus six loans serviced for less than $0.001 billion as of Dec. 31, 2015.
The most-recent servicing portfolio consisted only of loans owned by the company.
From the period that initiated on Oct. 1, 2016, and concluded at year-end 2016, the mortgage banker closed 1,935 residential loans for $0.395 billion.
Business retreated from the third quarter, when 2,223 loans were closed for $0.462 billion. But activity accelerated from 1,453 mortgages funded for $0.292 billion in the final-quarter of 2015.
For all of last year, mortgage production amounted to 7,578 loans for $1.550 billion.
All of Churchill’s business is generated through the retail channel.
Churchill had 395 people on its payroll as of the close of the fourth-quarter 2016.
Staffing grew from 386 employees three months earlier and 370 people one year earlier.
