Movement Mortgage LLC saw a decline in quarterly home lending volume, though less than at many of its peers. Still, the company managed to increase the number of people on its payroll.
A total of 2,783 residential loans with a collective unpaid principal balance of $0.273 billion were serviced by the Indian Land, South Carolina-based firm as of March 31, 2017.
That is according to data submitted as part of Movement’s participation in the
Mortgage Daily First Quarter 2017 Mortgage Origination Survey.
The servicing portfolio was 2,593 loans for $0.462 billion as of year-end 2016 and 1,415 loans for $0.280 billion as of the same date last year.
Third-party servicing accounted for $0.271 billion of the most-recent total.
Moving on to originations, there were 11,367 loans closed for $2.506 billion during the first-three months of this year. Business was all generated through the retail channel.
Production was lower than 13,305 loans funded for $3.020 billion in the fourth-quarter 2016. The 17 percent quarter-over-quarter decline was less than roughly a one-third drop reported by much of the rest of the industry.
But activity improved from 10,050 loans closed for $2.135 billion in the first-quarter 2016.
As of the conclusion of March 2017, there were 4,193 people on Movement’s payroll. Staffing
ascended from 3,998 employees at the end of last year and 3,373 positions at the same point last year.
