Loan originations and servicing contracted on a quarter-over-quarter basis at Fairway Independent Mortgage Corp. But headcount continued to expand.
At the conclusion of March 2017,
the Sun Prairie, Wisconsin-based firm serviced 20,146 residential loans with a collective unpaid principal balance of $4.207 billion.
Fairway disclosed the data, in addition to other operational metrics, as part of the
Mortgage Daily First Quarter 2017Â Mortgage Origination Survey.
The latest servicing portfolio was down from year-end 2016, when 20,969 loans were serviced for $4.420 billion. But the portfolio expanded from 16,223 loans for $3.450 billion as of March 31, 2016.
Owned portfolio loans accounted for $0.015 billion of the most-recent total, while $4.192 billion was third-party servicing.
Fairway originated 16,056 loans for $3.563 billion during the first-three months of this year. Business fell from 20,914 loans closed for $4.835 billion in the fourth-quarter 2016. But production accelerated from 13,230 loans funded for $2.838 billion in the first-quarter 2016.
First-quarter 2017 volume consisted of $3.329 billion in retail originations, $0.185 billion in wholesale lending and $0.049 billion in correspondent acquisitions.
As of the most-recent date,there were 4,749 people on Fairway’s payroll.
Staffing expanded from 4,312 people three months earlier and 3,316 employees one year earlier.
