Among firms that provide home financing, some are reporting that they rank among the biggest lenders in their geographic areas. Commercial mortgage companies are also tooting their own horns.
More than $2 billion in loans are being closed annually at Network Funding LP, a news release earlier this year said.
Since opening for business in 1998, Houston-based Network Funding claims that it has closed more than 90,000 loans.
For the sixth consecutive year, USA Mortgage/DAS Acquisition Co. LLC reports that its residential loan originations exceeded $1 billion. Production during 2013 was $1.32 billion.
Creve Coeur, Mo.-based USA also said that it was Missouri’s largest lender for the U.S. Department of Agriculture’s Guaranteed Rural Housing Program last year, with 575 loans funded for $0.066 billion.
Since 2008, North American Savings Bank FSB says its home loan production was nearly $9 billion. The financial institution is based in McLean, Va., and says it is among the 25-biggest originators of loan guaranteed by the Department of Veterans Affairs.
Cornerstone Mortgage Inc. announced last week that it has been designated as one of 2014’s three-largest mortgage lenders in the St. Louis area. The company, which reports $0.7 billion in volume for last year, moved up from No. 4 in 2013.
St. Louis-based Cornerstone, which opened for business in 1995, employs a staff of 165 people. The company claims to be the second-largest privately held lender in Missouri.
An announcement in January indicated that Guild Mortgage Co.’s Nevada production was a record 2,542 loans for $0.503 billion. A new operations center in Reno, Nev., headed by Kevin Green is likely to boost volume even more in the Silver State.
Company-wide originations at San Diego-based Guild were 34,964 loans for $7.379 billion last year.
Eleven-year-old Parkside Lending reported that its fourth-quarter mortgage originations were up 113 percent from the fourth-quarter 2013. Parkside operates from San Francisco.
Credit unions located in Michigan closed 8 percent more home loans in the third quarter than a year earlier, the Michigan Credit Union League reported in January.
Commercial Real Estate
Commercial mortgage originations from Jan. 1 through Nov. 19 of last year in Brooklyn, N.Y., were $0.643 billion at Eastern Union Funding, the New York-based firm reported. Full-year 2014 production was expected to reach 250 transactions, off slightly from 254 in 2013.
In
Sarasota, Fla., a Feb. 17 statement from Thomas D. Wood Co. indicated that Brad Cox, a senior vice president, closed $0.033 billion in commercial mortgages during 2014.
Company-wide, Thomas D. Wood generated $0.365 billion in CRE loan production last year.
