Servicing and staffing expanded from three months earlier and a year earlier at Primary Residential Mortgage Inc. Home lending activity moved up from the preceding quarter.
Single-family loans serviced by PRMI numbered 14,181 as of June 30. The collective unpaid principal balance for the mortgages was $2.559 billion.
The Salt Lake City-based mortgage banking firm made those disclosures and more as part of the
Mortgage Daily Second Quarter 2017 Mortgage Origination Survey.
The servicing portfolio
expanded from 13,868 loans for $2.521 billion as of March 31, 2017. It also grew from 11,873 loans for $2.247 billion serviced as of the same point in 2016.
Last month’s total included $2.558 billion in loans serviced for third parties and less than $0.002 billion in
loans owned by PRMI.
In the three months ended mid-2017, mortgage originations were 7,071 loans for $1.541 billion. All of the activity was generated through the retail channel.
Business jumped from 5,267 loans that were closed for $1.136 billion in the first quarter. Still, PRMI suffered a year-over-year decline, with production retreating from $7,999 units funded for $1.725 billion
in the second-quarter 2016.
During the six months ended June 30, 2017, there were 12,338 mortgages originated for $2.677 billion.
Staffing finished the first half at 2,057 people. Headcount grew by seven employees compared to the end of March 2017.
The payroll has been pushed up 67 people since the same date a year ago.
