Prosperity Home Mortgage LLC, one of the first companies to report first-quarter results, saw a significant decline in loan production and a drop in staffing.
Residential loan originations during the period that started on Jan. 1, 2017, and finished on March 31, 2017, came to 2,051 units for $0.561 billion.
Those details and more were provided by the Chantilly, Virginia-based firm as part of the Mortgage Daily First Quarter 2017 Mortgage Origination Survey.
Business at Prosperity
descended from the fourth-quarter 2016, when 2,784 loans were closed for $0.790 billion.
But production was hardly any different than in the first-three months of last year, when
2,037 mortgages were funded for $0.560 billion.
All business at the home lender is generated through the retail channel.
No servicing portfolio was reported by Prosperity.
As of the end of last month, there were 438 people on Prosperity’s payroll.
Staffing
subsided from 443 employees three months earlier. But headcount grew from 430 people a year earlier.
