While most lenders’ home loan originations trekked downhill in second-quarter annual comparisons, one company bucked the trend.
From April 1 to June 30, Stonegate Mortgage Corp. substantially revved up its loan and servicing activity. Staff numbers also forged ahead.
The Indianapolis-based company used the Mortgage Daily Second-Quarter 2014 Mortgage Origination Survey to proclaim its 15,797 residential loans originated for $3.307 billion.
Stonegate, which appointed a new vice president over third-party originations in June, realized most production through $2.108 billion in correspondent acquisitions. Wholesale lending provided $0.730 billion, while retail channels contributed $0.470 billion.
Total activity pushed ahead of the 11,925 loans closed at $2.422 billion in the first quarter.
These recent origination totals also accelerated 59 percent over amounts funded in second-quarter 2013 and distinguished Stonegate as the only lender tracked by Mortgage Daily, to date, with positive growth from a year earlier.
Behind the year-over-year improvement was the December 2013 acquisitions of Crossline Capital Inc. and Nationstar Mortgage Holding Inc.’s wholesale lending business.
Altogether, the Indianapolis-based lender’s first six-month originations totaled 27,722 loans for $5.729 billion.
As of June 30, Stonegate’s serviced 90,503 loans at $16.739 billion.
Stonegate’s servicing total was 19 percent higher than it was as of March 30 and 121 percent more than reported by the end of June 2013.
Headcount for the lender reached 1,256 by the close of the second quarter, which meant the company had 17 more employees than it did when the first quarter ended.
Ending June last year, Stonegate accounted for 662 staff members.
