Strong production has been reported by mortgage lenders that originate purchase financing, reverse mortgages and housing finance agency products. Even a company that facilitates home loans through family members recently reached a milestone.
Home loan originations of $3.97 billion in the first half of 2013 were 22 percent higher than during the same period last year, Mortgage Master announced. It was also record activity for the firm.
The Walpole, Mass.-based lender said that based solely on jumbo loan production, business was up nearly two thirds from the same period in 2012.
Mortgage Master, which claims to be the biggest mortgage lender in Massachusetts, previously reported to Mortgage Daily that second-quarter production was $1.8 billion, off from $2.2 billion three months earlier but better than $1.6 billion a year earlier.
Lifetime peer-to-peer mortgage production at National Family Mortgage has reached $100 million as of July 15, a news release indicated. The Boston-based firm, which launched in November 2010, said it expects to surpass the $200 million mark next year.
With 400 loans funded for $33 million through the Illinois Housing Development Authority last year, Wintrust Mortgage announced it was the biggest originator of such loans in 2012. The volume was generated by 61 loan originators. Borrowers are provided with $10,000 in cash assistance for the down payment and closing costs and need only contribute the greater of 1 percent or $1,000 towards the purchase price.
An announcement late last month indicated that loan production at Atlanta-based BrandMortgage has increased 70 percent since January 2011.
The share of purchase financing at Capital Mortgage Funding was 70 percent in the second quarter — doubling the purchase share for the first quarter, the Southfield, Mich.-based retail lender announced Tuesday. Capital Mortgage-parent United Shore Financial Services LLC reported $0.247 billion in second-quarter retail originations generated through Capital Mortgage and sister company Shore Mortgage.
Open Mortgage touted a No. 9 ranking among reverse mortgage lenders during July. The Austin, Texas-based company cited data from Reverse Market Insight.
The Reverse Market Insight data for last month indicates that Open Mortgage closed 124 home-equity conversion mortgages last month. However, based on year-to-date volume, Open Mortgage only ranks as the 18th-biggest HECM originator.
San Diego-based Blue Loan Services said in May that it was ranked by Lender411 as one of the “Top 50 lenders in California.”
Also in May, PSM Holdings Inc. reported that subsidiary PrimeSource Mortgage Inc. closed 2,842 loans during the nine months ended March 31, up from 1,426 in the same period a year earlier.
