Correspondent acquisitions more than offset a decline in wholesale production at Stonegate Mortgage Corp., pushing overall originations up by more than a fifth.
Home lending volume at Stonegate totaled 14,845 loans for $3.440 billion during the three months ended June 30.
The Indianapolis-based mortgage company made the disclosure as part of the Mortgage Daily Second Quarter 2014 Mortgage Origination Survey.
Activity accelerated from the first quarter,
when Stonegate closed 11,907 residential loans for $2.838 billion.
Production also picked up from the second-quarter 2014, when 15,797 mortgages were funded for $3.307 billion.
For the entire first half of 2015, Stonegate’s originations amounted to 26,752 loans for $6.278 billion.
Second-quarter retail originations of $0.756 billion were up
27 percent from the previous three-month period.
Also increasing were correspondent acquisitions,
which shot up 43 percent from the first quarter to $2.061 billion.
But business from the wholesale channel declined
23 percent to $0.623 billion in the second-quarter 2015.
As of mid-2015, Stonegate serviced 91,934 loans for $17.244 billion.
The servicing portfolio
grew from 93,150 loans serviced for $16.965 billion three months earlier and 90,503 loans for $16.739 billion a year earlier.
Staffing at the publicly traded firm finished the second-quarter 2015 at 1,349 employees.
Headcount jumped from 1,270 as of March 31 and 1,256 people as of June 30, 2014.
