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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.


Improving Production

Recent mortgage production activity

Sept. 8, 2009

By SAM GARCIA


As several small firms announce big increases in loan originations, a number of companies are providing production support for fledging lending operations. One outsourcing deal focuses on FHA fundings.

Gold Star Mortgage Financial Group reported on Sept. 1 that its was ranked No. 3 in Crain's 2009 List of Largest Mortgage Lenders in Michigan. The latest placement was an improvement from No. 4 last year. The top two lenders reportedly were Flagstar Bank and Quicken Loans/Rock Financial.

Data reported by net branch operator Fairway Independent Mortgage Corp. indicated that year-to-date loan originations through July 29 were $2.00 billion. Last year, volume was $1.97 billion.

First Niagara Financial Group Inc. reported $565 million in originations at First Niagra Bank from Jan. 1 to May 31, climbing from $264 million during the same period last year. Purchase financings fueled the jump. The increase in production as industry-wide fundings have fallen has left First Niagra with a bigger market share.

First Niagara expects to close this month on an acquisition of 57 National City Bank branches, including $0.8 billion in loans.

First-quarter wholesale production was $236.0 million at Coastal Banking Company Inc., nearly doubling the $122 million in the fourth-quarter 2008, according to earnings data.

LenderLive Network Inc. announced last week that it reached a deal to process and underwrite FHA-insured mortgages that will be acquired by the Neighborhood Housing Services of America. The agreement covers the non-profit's Non-Supervised Federal Housing Administration guarantee program for correspondent lenders.

LenderLive said its specially trained staff is well suited to ensure loans headed to Neighborhood Housing are compliant. The Denver firm said it helps local FHA originators compete with large institutions.

Amalgamated Bank recently announced it would provide mortgage services with the help of PHH Mortgage. The Mount Laurel, N.J.-based mortgage company will provide pre-approval letters, loan origination and loan servicing. Borrowers will be able to apply online or at bank branches.

The Steltmen Group Inc. reported that each week, between 10 and 20 new clients are signing up for VirtualBranch.net -- its network branch program. The rapid growth has Steltmen recruiting for its processing centers.

Earlier this year, Mortgage Success Source said it added super-producers Barry Habib, Sue Woodard, Todd Duncan, Greg Frost and Jim McMahan to its contributing faculty.


Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com in 2000.

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