Third-quarter mortgage results have started rolling in and the first to report, The Money Source Inc., disclosed increased lending, servicing and staffing.
The Melville, New York-based organization serviced 65,188 loans with an aggregate unpaid principal balance of $13.558 billion as of Sept. 30.
Those details, along with other operational metrics, were provided as part of the
Mortgage Daily Third Quarter 2016 Mortgage Origination Survey.
It was the first report of mortgage production tracked so far for the third quarter.
The Money Source’s servicing portfolio grew from $13.08 billion three months earlier and $9.55 billion one year earlier.
All of the most-recent loans were serviced for third parties.
Mortgage originations during the latest three-month period totaled 12,007 loans closed for $2.837 billion.
Business accelerated from $2.350 billion during the second quarter
and $2.04 billion in the third-quarter 2015.
Third-quarter 2016 production included $0.466 billion in retail originations, $0.251 billion in wholesale lending and $2.121 billion in correspondent acquisitions.
The Money Source had 756 people on its payroll as of the end of last month.
Staffing
expanded from 546 employees as of mid-2016.
