In addition to growing its residential loan servicing portfolio, Navy Federal Credit Union lifted its mortgage production and expanded its mortgage headcount.
The financial institution reported a total mortgage servicing portfolio of 267,394 single-family loans with an aggregate unpaid principal balance of $56.521 billion as of Sept. 30.
Vienna, Virginia-based Navy provided the details, along with other operational metrics, as part of Mortgage Daily Third Quarter 2017Â Mortgage Origination Survey.
The servicing portfolio increased from 248,353 loans for $51.340 billion as of three months earlier and 249,566 loans for $51.631 billion as of a year earlier.
Third-party servicing accounted for $28.035 billion of the most-recent total.
Navy
closed 14,946 loans for $4.085 billion during the latest three-month period. Business increased from 13,349 loans for $3.590 billion in the second-quarter 2017 and 13,171 loans for $3.524 billion in the third-quarter 2016.
From Jan. 1, 2017, through Sept. 30, mortgage originations, which are all generated through the retail channel, came to 39,454 loans for $10.606 billion.
Navy reported 1,902 mortgage employees on its payroll as of the close of the third-quarter 2017. Staffing soared from 1,496 as of mid-year 2017
and 1,310 people on the same date last year.
