"Year over year growth of nearly 40%, while staying over 75% purchase money in a refi market, is a testament to the hard work of all production and corporate departments."
ORANGE, CA (PRWEB) January 31, 2012
International City Mortgage (ICM) today announced record loan production in 2011, surpassing 2010 home loan originations by 39.99%. The direct lender achieved several other accomplishments last year including FNMA approval, additional warehouse funding capacity, key operations enhancements, and expanded loan products.
“2011 was another great year for ICM,” said Cory Hjelmeir, Vice President of Production at International City Mortgage. “Year over year growth of nearly 40%, while staying over 75% purchase money in a refi market, is a testament to the hard work of all production and corporate departments. We do not expect 2012 to be any different.”
ICM’s CEO Farrell L. Facey said, “Success like ours starts on the front line with the knowledge and integrity of the Loan Officers, the great support of the Processors, and the expert guidance of our Branch Managers.”
“We couldn’t have reached such record numbers without some strategic changes in operations and the dedication of the ops staff,” added Kristi Evans, the company’s Vice President of Operations. “Staffing up, especially with experienced DE Underwriters, to deliver 24-hour underwriting turn times was a key factor.”
“We are also very proud of the fact that we were able to ‘Go Green’ by shifting from paper files to electronic files,” continued Evans. “That's a huge accomplishment. It’s not only more efficient but reduces the company’s carbon footprint.”
Cory Hjelmeir added, “With the volatility of the market and changes in the mortgage industry we knew we had to adapt and grow to remain successful. Making the commitment to offer an expansive product mix to meet customer needs, we added loan products that include renovation financing (FHA 203k), asset based niche programs, down payment assistance (CHDAP), and USDA Rural Development financing.”
The company feels their strong standing at the close of 2011 has prepared them well for continued record growth and success in 2012.
About International City Mortgage
International City Mortgage (ICM) is a privately held residential mortgage banking direct lender serving California. Founded in 1987 on the principles of responsible lending, competitive rates, and exceptional service, they have successfully weathered mortgage industry cycles and are positioned for sustained growth. Their 18 retail branch locations are focused primarily on purchase transactions, which are generated from strong relationships with Realtors and Builders. They offer a wide range of financial solutions for home buyers and owners, including the top Conventional, FHA, VA, USDA, Jumbo and Bond products available within the industry today. Loans made or arranged pursuant to California Department of Corporations Residential Mortgage Lenders License #4130570, NMLS-DOC: 222730, and HUD Mortgagee #7906300005. For more information, please visit the Company web site at http://www.icitymortgage.com.