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Mortgage Firms Report Growing Originations

While industry-wide annual mortgage originations are forecasted to retreat again, there are some lenders that are driving up loan volume.

Fannie Mae’s most-recent forecast had last year’s single-family loan originations by the nation’s home lenders coming in at at $1.812 trillion.

That was less than the $2.052 trillion in home-lending activity during 2016. This year’s originations are expect to fall further — to $1.731 trillion.

But despite the declining mortgage volume for the industry as a whole, some individual players are experiencing growth.

Among them is The Mortgage Collaborative, which recently reported that the 20 new members who joined the organization since summer bring its annual production to $210 billion.

With the latest members added, the San Diego-based mortgage cooperative has seen its overall membership expand to 120 companies.

A Dec. 4 statement said that marketplace lender LendingHome originated approximately $1 billion last year. Quarterly business reportedly has doubled since the first quarter.

The San Francisco-based company, which has seen headcount grow past 300 employees, said it has funded
more than 10,000 loans for more than $2 billion since it was founded in mid-2014.

Data from Modex Inc.
indicate that Caliber Home Loans Inc. is the biggest home lender in the Seattle area with $2.654 billion in originations. Guild Mortgage Co. is No. 2 with $1.908 billion, followed by Fairway Independent Mortgage Corp.’s $1.181 billion, American Pacific Mortgage Corp.’s $1.036 billion and Eagle Home Mortgage LLC’s $0.838 billion.

Credit unions that are located in the state of Michigan
originated nearly 12 percent more in first mortgages during the third-quarter 2017 than they did during the same-three months in 2016, according to data reported by the Michigan Credit Union League.

The league previously reported an 11 percent year-over-year increase in first-mortgage lending for the prior quarter.

In an announcement indicating that Mortgage Lending Services LLC has changed its name to TruStone Home Mortgage LLC, the Plymouth, Minnesota-based credit union service organization reported that mortgage production has grown by 240 percent over the past six years. The 32-year old firm said last years originations amounted to more than 1,100 units.

Columbus Business First recently ranked the top lenders in Central Ohio for 2016.
Union Savings Bank topped the list. No. 2 was Fifth Third Bank, followed by Concord Mortgage Group, American Eagle Mortgage Co. LLC and Park National Bank.

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