Although overall annual home lending volume slowed last year, several mortgage originators report achieving the billion-dollar milestone.
Among all U.S. home lenders,
there were 6.778 million first-lien mortgages originated during all of 2017 for a total of $1.87 billion.
Aggregate production retreated from the preceding year, when 7.723 million residential loans were closed for $2.1 trillion.
Those statistics were detailed by Black Knight
in its January 2018 Mortgage Monitor.
Loans to finance a home purchase accounted for $1.19 trillion of last year’s
originations, up more than 8 percent from the prior year.
Another $0.681 trillion of last year’s business was refinance, down from more than 1 trillion in 2016.
Refinance share was 36 percent in 2017, sinking from
around 48 percent the preceding year to the lowest share in 17 years.
Mortgage originations during 2017 at Eastern Union were $4 billion, according to a promotional notice.
More than $3 billion in single-family loans were originated by San Diego-based C2 Financial Corp., a Feb. 8 statement said.
National home lending at St. Louis-based USA Mortgage came to $1.50 billion last year, a Feb. 20 statement indicated. Ownership of the 550-employee firm was transferred to an Employee Stock Ownership Plan early last month.
Purchase-money lending came to 6,684 loans for $1.147 billion during 2017 at Arvest Bank, a Feb. 20 statement. Volume increased from 6,222 mortgages for $1.009 billion the preceding year.
Angel Oak Companies originated $1.1 billion in mortgages during 2017 that don’t meet the Qualified Mortgage rule — an all-time record for the 10-year-old company. Last year’s business was up 40 percent from 2016.
Loan production for the Atlanta-based firm was generated from affiliates
Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge.
Since launching in January 2016, New York-based Better Mortgage reports that it has closed $1 billion in
home loans.
