Solid quarter-over-quarter and year-over-year gains were made in originations at Movement Mortgage LLC. Staffing was also solidly higher, and servicing grew.
Residential loan originations during the three months ended Sept. 30 totaled 14,557 units funded for $3.096 billion. (after the publication of this story, Movement Mortgage Financial Analyst Charles Floyd indicated that the company mistakenly reported application volume for the third quarter; closed-loan production was actually just 10,719 loans for $2.23 billion)
The
Virginia Beach, Virginia-based firm disclosed its operational statistics as part of its participation in the Mortgage Daily Third Quarter 2015 Mortgage Origination Survey.
Business soared compared to the second quarter, when 10,337 home loans were closed for $2.126 billion.
Activity also accelerated from the third-quarter 2014, when production came in at 6,324 loans for $1.248 billion.
From Jan. 1 through Sept. 30, 2015, Movement Mortgage’s originations amounted to 31,616 loans for $6.587 billion.
All of the latest quarterly activity was generated through the retail channel.
As the close of the third-quarter 2015, Movement Mortgage serviced 820 loans for $0.164 billion.
The servicing portfolio increased from 366 loans serviced for $0.073 billion as of mid-year 2015.
Servicing was down, however, from the same point in 2014, when Movement Mortgage serviced $0.440 billion.
Staffing finished the latest quarter at 2,634 employees.
Headcount jumped from 2,098 people three months earlier and 1,458 employees a year earlier.
