While there was a little upward movement in mortgage production at Navy Federal Credit Union, loan servicing and mortgage staffing jumped higher.
At the close of September, the Vienna, Virginia-based firm serviced 249,566 residential loans with an aggregate principal balance of $51.631 billion.
Those details and more were disclosed by the financial institution as part of
the Mortgage Daily Third Quarter 2016 Mortgage Origination Survey.
Navy FCU’s servicing portfolio grew from 242,448 loans for $49.499 billion as of three months earlier and
228,327 mortgages for $46.071 billion as of a year earlier.
The latest portfolio included $25.216 billion in mortgages serviced for others.
The credit union closed 13,171 residential loans for $3.524 billion during the three months ended Sept. 30, 2016. Business crept up from 13,261 loans originated for $3.493 billion in the second quarter and 13,477 loans for $3.442 billion in the third-quarter 2015.
Mortgage production during all three quarters that have elapsed so far this year came to 35,546 units funded for $9.293 billion.
Navy FCU concluded September 2016 with 1,310 mortgage employees on its payroll. Staffing jumped from 1,164 people as of mid-2016 and
1,073 employees as of the same date last year.
