New World Mortgage 2003 Loan Volume $350 Million; Broker More Than Doubles 2002 Loan Production
New World Mortgage, coming off its best year ever with more than $350 million in loan volume, is heading for another banner year despite predictions of a slow-down in mortgage refinancing that has driven the industry for two years.
(PRWEB) May 19, 2004 -- New World Mortgage, coming off its best year ever with more than $350 million in loan volume, is heading for another banner year despite predictions of a slow-down in mortgage refinancing that has driven the industry for two years.
The company reports 2004 first quarter production has topped $55 million. New World Mortgage predicts good volume during the second quarter - the traditional buying season - due to high home inventory levels and continuing demand.
In 2002, New World Mortgage closed $138 million in loans. Nationally, mortgage production nationwide climbed to $3.912 trillion in 2003 and we rode that wave to more than $350 million," says Christian Werner, CEO of New World Mortgage. Analysts are projecting a $2.4 trillion year in 2004 and that means increased competition for less business. We have a three-point plan to capture more market share."
Werner says that New World has developed an aggressive outside sales program, a strategic partnership program, and a subprime loan fulfillment program for banks.
As part of our partnership initiative, we have joined the LendingTree network of lenders, which will generate quite a lot of business for us," says Werner. Additionally, banks often have loans they just cant approve due to credit blemishes. We are able to find funding sources for those subprime loans."
New World Mortgage, Inc. is the full service mortgage brokerage whose mission is to be a consumers financial advocate, not just a one-time lender.
Founded in 1998, New World Mortgage, Inc. employs 51 loan originators, 11 support staffers and five managers in Charlotte, NC; Durham, NC; Stow, OH; and Brecksville, OH. The company is located on the web at www.mortgagemaps.com, and can be reached by telephone at 704-549-4600.
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