It was an all-time high for quarterly residential loan production at McLean Mortgage Corp. The home lender’s employee count additionally expanded.
For the period that began on April 1 and concluded on June 30,
McLean Mortgage closed 1,438 residential loans for $0.507 billion.
The
Fairfax, Virginia-based company disclosed the operational data as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
“This quarter’s production represented record results for our company as we exceeded the peak production quarter of the refinance boom of 2013,” McLean Mortgage President Nathan Burch said in a news release. “And while the mix of production has evolved since 2013, our production has continued to out-pace the industry average with regard to purchase volume every year, including averaging over 75 percent purchases thus far this year.”
During the prior quarter, 900 loans were funded for $0.329 billion, while the total was 1,305 units for $0.435 billion in the year-prior period.
For the entire first-half 2016, mortgage production amounted to 2,338 loans for $0.836 billion.
All of the company’s business is generated through the retail origination channel.
McLean Mortgage, which reported no servicing portfolio, said it employed 243 people as of the close of the second-quarter 2016.
Headcount was up by nine people versus as of March 31.
As of mid-2015, there were 222 employees on the lender’s payroll.
