The pace of home lending at loanDepot LLC is well above last year’s level, and an upcoming acquisition is likely to drive activity even higher next year.
From July 1 through Sept. 30, the Foothill Ranch, Calif.-based mortgage banker closed 15,788 home loans for $3.544 billion.
The operational data was reported by loanDepot as part of the Mortgage Daily Third Quarter 2014 Mortgage Origination Survey.
Retail production accounted for $3.342 billion of the total, while the wholesale division funded $0.202 billion.
Annual residential loan originations at loanDepot, which reported $8.4 billion in full-year 2013 production, are likely to increase by roughly $6 billion with its planned acquisition of Mortgage Master Inc. announced earlier this month.
loanDepot’s mortgage servicing portfolio finished September at 65,347 loans for $13.999 billion.
The third-party portion of the servicing portfolio was $13.133 billion.
Headcount closed out the third quarter at 2,978 employees.
A year earlier, staffing stood at roughly 2,200 people.
The Mortgage Master acquisition will add around 700 employees to loanDepot’s payroll.
