Home lending might be slowing, but mortgage bankers are still finding plenty to tout. Some still have plans for growth.
Out of $52 billion in loans that were originated by PHH Mortgage during all of last year, around $5 billion was generated through the correspondent lending channel, according to an announcement.
The Mount Laurel, N.J.-based company claims that it has been ranked as the 12th largest correspondent lender in the country.
Mortgage Network Inc. reported last month that is has originated in excess of $35 billion in residential loans since 2000. It opened its doors in 1988.
Danvers, Mass.-based Mortgage Network claims it is “one of the largest independent mortgage lenders in the eastern U.S.” and also claims the No. 1 spot among Massachusetts Housing Finance Agency lenders.
Intercoastal Mortgage Co. closed $0.915 billion in home loans during 2013, a story from Bloomberg said. Business at the Fairfax, Va.-based company was reportedly brought to a stand still when Ellie Mae had a recent outage — halting closings on around $5 million in loans.
NFM Lending reported that it originated $0.708 billion during all of last year. The Linthicum, Md.-based company, which previously operated as NFM Inc., was founded in March 1998, employs 200 people and operates 29 branches.
Last year “was a major transitional year for NFM as we turned our production volume from 70 percent refinance to 90 percent purchase.,” NFM Chief Executive Officer David Silverman said in the news release. “Next year I expect NFM to jump much higher on the list as our momentum is incredible.”
U.S. Department of Agriculture Secretary Tom Vilsack issued a report indicating that more than 163,000 mortgages were guaranteed by the department in 2013, the Norwalk Reflector reported. Another 7,000 homes were purchased through direct USDA loans.
