home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Fastest Growing Mortgage Companies

Vineyard National Bank tops Fortune ranking

August 24, 2005

By COCO SALAZAR


Several mortgage-related companies are still growing fast enough to make a noteworthy Fortune magazine ranking.

The top mortgage-related entity on Fortune magazine's latest list of the 100 Fastest-Growing Companies was Vineyard National Bank at No. 4.

Noting that the Southern California banker has been "benefiting from the real estate boom," Fortune said the company's growth over the past three years was 89% in earnings-per-share, 84% in revenue and 98% in total returns. Net income for the year ending in the first quarter 2005 totaled $15.4 million.

The rankings were based on three equally weighted factors; profit and sales growth for the past three years through the first quarter 2005, and the three-year total return through June. Companies making the list had revenues of at least $50 million for the most recent four quarters and annualized revenue and earnings-per-share growths of at least 25% for the past three years.

Jumping 46 spots from its ranking last year to grab the No. 25 position this year was William Lyon Homes. Net income for the Newport Beach, Calif.-based homebuilder, which finances homes through William Lyons Financial Services, was $176.7 billion over the past year, while annualized total returns over the past three years have grown 55% over the past three years, according to the magazine.

Real estate investment trust Friedman, Billings and Ramsey Group placed 27th -- off from No. 11 a year ago. The Virginia-based company's soaring, compound annual growth of 113% in earnings-per-share and 91% in revenues overshadowed the weaker figure of 11% in annualized total returns over the past three years. Over the past year, net income amounted to about $0.3 million and revenues $1.0 billion.

Countrywide Financial tumbled, down to No. 43 from last year's No. 7 position. Investors of the Calabasas, Calif.-based lender over the past three years have enjoyed compound annualized growth of 63% in earnings-per-share, 43% in revenues, and 49% in total returns. Countrywide had net income of $2.3 billion and revenues of $14.9 billion over the past year. Despite the fall from its previous rank on the list, the "mortgage-banking specialist with national brand riding home boom," as Fortune put it, was the largest mortgage originator in the second quarter with $120 billion in loans closed.

Making its second-consecutive appearance on the list was Capital Title Group Inc. at No. 57 -- although way off last year's No. 21 rank. The provider of title, appraisal and other transaction services to the real estate and mortgage lending industries said it was one of three Arizona-based companies to make the list. The company had annual revenues of $321.4 million and the strongest of the three-year annualized rate growth figures it was ranked on was in revenues at 69%. Earnings per share amounted to 17.1 million in the past year and the three-year compound growth was 37%.

"It is gratifying that our significant growth be recognized in a manner that places us within a select list of top-performing companies, an acknowledgment of our accomplishments as we increase our national platform," Capital CEO Donald Head said in a written statement. "Our national visibility and growth have also been noted within the Wall Street community as reflected in our stock appreciation, an added benefit for our shareholders."

Hovnanian Enterprises came in at No. 64. The New Jersey-based homebuilder, which originates home loans through K. Hovnanian American Mortgage LLC, has made the list four times in a row but is down a whopping 52 spots from a year ago. The three-year annualized growth in Hovnanian's earnings per share was 68%, in revenues was 32% and in total returns was 54%. Annually through the first quarter, net income totaled nearly $0.4 billion and revenues $4.4 billion.

Other mortgage-related entities on the Fastest-Growing list included, Wilshire Bancorp, Meritage Homes, which Fortune picked as one of the "seven stocks to bet on," and TALX.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.

E-mail: [email protected]


SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders