Several residential lenders have recently issued reports about the level of production they have generated. In addition to touting overall record activity, some focused on their robust financing of home purchases.
loanDepot LLC, which previously reported $38.2 billion in 2016 mortgage production, said in January that its total originations — including residential and personal loans — have reached $100 billion since opening in 2010.
“As the newest and most forward-looking brand among the nation’s top five retail mortgage lenders, loanDepot has grown originations on average by 70 percent annually since 2010, and grown its market share by 400 percent since 2012,” the statement said.
Guild Mortgage Co. announced that it closed a record 69,885 home loans for $15.9 billion in 2016. Business improved from 63.358 loans funded fro $13.8 billion in 2015.
Loans to finance home purchases reached $10.7 billion last year at the San Diego-based organization. Annual purchase production ascended from $9.8 billion the previous year.
Guild President and Chief Executive Officer
Mary Ann McGarry noted in the statement, “Last year, we saw homebuyers turn to independent mortgage banking companies like Guild because of our expertise and broad range of product offerings.”
In Green Bay, Wisconsin, Associated Bank claimed to be the No. 1 mortgage lender in the state with 7,665 loans closed for $1.43 billion during 2015. It was reportedly the eighth year that it topped the list.
From Jan. 1, 2016, through Dec. 28, 2016, Arvest Bank originated 6,170 purchase-money mortgages with an aggregate principal balance of $1.001 billion, according to a statement in January. It was the first time annual purchase production exceeded $1 billion. Business ascended from 5,931 loans for $0.941 billion the previous year.
Lowell, Arkansas-based Arvest said that its year-to-date total originations — including purchase financing and refinancing — topped $1 billion
in September. Based on the numbers, full-year 2016 overall originations likely came in at around $1.3 billion.
At Angel Oak Companies, there were around $0.7 billion in nonprime
and non-QM originations during all of 2016, Inside Mortgage Finance reported.
With 1,270 home loans closed during 2016, First Savings Mortgage Corp. claims it was the biggest mortgage lender in the District of Columbia last year, a statement Tuesday said. It was reportedly the third consecutive year at the top.
Since 1989, the McLean, Virginia-based company reports $43 billion in overall originations.
Last year’s mortgage originations at Compass Home Loans LLC totaled 653 loans, more than doubling the 302 loans originated in 2015. First-quarter 2017 business is projected at more than 146 units. The Oahu, Hawaii-based firm said it
is among the five-largest purchase-money originators on the island.
Between 2015 and 2016, Castle & Cooke Mortgage LLC said its originations were up 28 percent. A further increase is expected this year. The Draper, Utah-based company said headcount was up nearly a quarter to more than 350 employees.
