Home-lending activity saw a quarter-over-quarter gain and a year-over-year loss at Finance of America Holdings LLC. Headcount continued to grow.
The Horsham, Pennsylvania-based company serviced 11,115 single-family loans that had a collective unpaid principal balance of $2.096 billion as of Sept 30.
The data, along with a host of other operational metrics, were revealed as part of the Mortgage Daily Third Quarter 2017Â Mortgage Origination Survey.
Finance of America’s servicing portfolio was trimmed from 11,338 loans for $2.155 billion three months earlier. The portfolio was also reduced from 13,821 residential loans with an aggregate principal balance of $2.852 billion as of a year earlier.
All of the loans in the portfolio are serviced for third parties.
Loan closings came to 17,073 loans for $4.468 billion during the quarter ended last month. Business was a little better than the 16,748 mortgages originated for $4.344 billion in the second quarter.
But mortgage production was lower than
17,981 loans closed for $5.513 billion during the same three months last year. The year-earlier total excluded reverse mortgages.
From
Jan. 1, 2017, until the end of last month, 46,983 loans were funded for $12.153 billion. The year-to-date total included $9.075 billion in retail originations and $3.078 billion in wholesale lending.
At the close of the third-quarter 2017, Finance of America’s payroll stood at 3,801 employees. Staffing was up by 52 employees from mid-year 2017 and 206 people from the same point last year.
