Several home-lending businesses recently disclosed residential loan production data, and all-time records were reached by some of the organizations.
Last year, state-licensed mortgage loan originators generated approximately $1.060 trillion is residential loan production. Volume climbed by a fifth from 2015.
The 2016 total included around $520 billion in purchase financing production. Originators boosted purchase-money lending by 15 percent from the prior year.
The findings were reported earlier this month by the
Conference of State Bank Supervisors in the 2016 NMLS Mortgage Industry Report.
Refinances accounted for roughly $0.520 billion of last year’s originations, while home-improvement loans made around $0.020 trillion of the total.
The Mortgage Collaborative reported earlier this month that its 100th member has joined the San Diego-based organization, brining to $150 billion its aggregate origination volume.
In a March 17 article, The Daily Times reported that Movement Mortgage LLC was the fifth-biggest lender in Tennessee with $0.027 billion in loan volume. The Indian Land, South Carolina-based company previously reported $12.045 billion in overall national originations during 2016.
Primary Residential Mortgage Inc. announced on Feb. 2 that its previously reported $6.264 billion in 2016 production was its best year since opening in 1998.
“These numbers and accomplishments are a reflection of the incredible strength, dedication and passion of our team members,” PRMI President and Chief Executive Officer David Zitting said in the statement. “The future has never been brighter for PRMI and we look forward to another exciting year of great challenges and even greater opportunities.”
A March 23 announcement from American Financial Resources indicated that the Parsipanny, New Jersey-based closed more than $3.5 billion over the past year. Since its inception 20 years ago, American Financial said it has funded more than 100,000 loans.
AFR wholesale reportedly serves a network of more than a thousand mortgage brokers and correspondent lenders.
Last year’s loan originations at
Primary Capital Mortgage LLC came to $1.93 billion, a Jan. 19 announcement indicated. The record year was 52 percent better than in 2015. During just December 2016, production increased 40 percent on a year-over-year basis. The growth came on the heels of a 207 percent increase in 2015.
“From my perspective, one of the most exciting aspects of this report is that we achieved this record volume by focusing on purchase mortgages and through consistently high volume throughout the year, not only during the peak spring and summer months,” Primary Capital Chief Financial Officer Steve Bledsoe stated in the press release.
