New American Funding reported across-the-board growth — increasing mortgage originations, expanding residential servicing and adding more employees.
Home loan production during the three months ended June 30 at the Tustin, California-based company was
9,487 loans for $2.752 billion.
New American reported the operational data as part of its participation in the Mortgage Daily Second Quarter 2015 Mortgage Origination Survey.
Loan volume was stronger than in the previous three-month period, when 7,660 mortgages were funded for $2.259 billion.
Activity also accelerated compared to the second-quarter 2014, when New American funded
4,372 home loans for $1.280 billion.
From Jan. 1 through June 30 of this year, originations amounted to 17,147 loans for $5.011 billion.
Second-quarter 2015 mortgage production included $2.424 billion in retail originations and $0.328 billion in wholesale production.
New American serviced 37,967 loans for $10.040 billion as of mid-2015. All of the loans were serviced for investors.
The servicing portfolio expanded from
31,895 loans serviced for $8.411 billion as of March 31.
As of June 30, 2014, the portfolio size was
21,866 loans for $5.696 billion.
New American finished June 2015 with 1,698 people on its payroll.
Headcount increased from 1,603 employees three months earlier and
just 1,139 employees twelve months earlier.
