Stonegate Mortgage Corp. has become the only residential lender to report an increase in first-quarter production. Its staffing and servicing also expanded.
The Indianapolis-based lender reported in the Mortgage Daily First Quarter 2014 Mortgage Origination Survey that it closed 11,925 loans for $2.422 billion.
Activity improved from the 12,278 loans funded for $2.382 billion in the final quarter of last year.
While the increase was minimal, Stonegate was the only lender to report an increase in quarter-over-quarter originations.
During the three months ended March 31, 2013, home lending production was 9,971 loans originated for $1.900 billion.
First-quarter 2014 activity included $0.261 billion in retail originations, $0.422 billion in wholesale production and $1.739 billion in correspondent acquisitions.
Stonegate said it serviced 77,082 residential loans for $14.103 billion as of the end of March.
The servicing portfolio increased from 65,819 loans for $11.890 billion three months earlier and 34,642 loans serviced for $6.115 billion 12 months earlier.
Staffing at Stonegate finished March at 1,239.
Headcount was up from 1,138 employees at the end of last year and 519 people at the same point in 2013.
