Walter Investment Management Corp. lifted mortgage originations, expanded its residential loan servicing portfolio and cut its losses. Mortgage delinquency, however, deteriorated.
During the three months ended June 30, residential loan originations came to $7.699 billion.
The numbers, in addition to other financial information, were revealed in the Tampa, Florida-based lender’s second-quarter earnings report.
Business was better than in the previous three-month period, when $5.878 billion was closed.
The improvement was more significant compared to the $4.731 billion in production during the second-quarter 2014.
For the entire first half of this year, production amounted to $13.578 billion.
Second-quarter 2015 volume included
$2.034 billion in traditional consumer fundings, $5.196 billion in correspondent acquisitions and $0.470 billion in reverse mortgage production.
Locked volume finished
the second-quarter at $6.3 billion, off from $6.9 billion three months earlier. Applications fell to $8.9 from $9.7 billion in the first quarter.
The total primary servicing portfolio finished mid-year 2015 at
1,894,706 loans for $228.944 billion.
The portfolio increased from 1,790,000 loans serviced for $213.937 billion as of March 31, 2014, and 1,780,266 loans for $188.356 billion as of June 30, 2014.
The June 30, 2015, total included third-party servicing on
$196.850 billion in forward loans and $9.284 billion in reverse mortgages. It also included owned investments of $12.761 billion in forward loans and $10.149 billion in reverse mortgages..
In addition, Walter reported a subservicing portfolio of
$52.926 billion as of the most-recent date.
Delinquency of at least 30 days on the traditional mortgage portion of the servicing portfolio
finished the second-quarter 2015 at 8.80 percent, worsening from 8.66 percent the prior quarter but improving from 9.92 percent at the same point last year.
Walter reported a $15 million loss before income taxes, cutting its losses from $50 million three months earlier and $52 million a year earlier.
There were around 6,000 people on staff as of mid-year 2015,
no different than at the end of the first quarter but 600 fewer than at the same point in 2014.
