An Oklahoma-based lender that saw mortgage production more than double last year picked up the servicing on over $4 billion in agency mortgages.
BOK Financial Corp. said today that it acquired a $4.1 billion servicing portfolio from Charter Bank.
The 34,400 loans in the portfolio are primarily managed, owned or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. There is a heavy New Mexico concentration in the portfolio, which includes loans secured by properties in seven states.
The Tulsa, Okla.-based servicer, which has a local Albuquerque presence, said its existing $7.4 billion servicing portfolio will increase 46 percent as a result of the acquisition.
BOK reported that production at its mortgage group increased to $3.0 billion last year from just $1.3 billion in 2008.
