Primary Residential Mortgage Inc.’s servicing portfolio grew on a quarter-over-quarter basis, though originations and employment were down.
Mortgage production during the final three months of last year came to 6,140 units funded for $1.317 billion.
PRMI was among the mortgage banking firms to participate in the Mortgage Daily Fourth Quarter 2015 Mortgage Origination Survey.
As has been the case with most home lenders, volume was down from the prior three-month period, when PRMI closed 7,760 loans for $1.603 billion.
But — also as occurred with many in the industry — business was elevated versus the fourth-quarter 2014, when 5,985 mortgages were funded for $1.203 billion.
Full-year 2015 production amounted to 28,736 loans for $6.049 billion, far better than the approximately 23,400 loans originated for around $4.7 billion the previous year.
All of the
Salt Lake City-based company’s activity was generated through the retail channel.
As of the end of last year, PRMI serviced 10,992 mortgages for $2.175 billion.
The servicing portfolio edged up from Sept. 30, 2015, when 10,692 loans were serviced for $2.169 billion.
Growth in mortgage servicing was more pronounced versus the end of 2014, when 10,494 loans were serviced for $1.413 billion.
Moving on to human resources, there were 1,943 people on PRMI’s payroll as of Dec. 31, 2015.
Staffing subsided from three months earlier, when headcount was 2,024.
But the number of employees expanded from a year earlier, when the total was 1,874.
