Our record volume is a direct result of the adaptability, commitment and unshakeable resilience of the CIVIC team. I am proud to work alongside our partners and the entire CIVIC family to empower our customers to build wealth through real estate.
REDONDO BEACH, Calif. (PRWEB) January 20, 2022
While originations for the overall mortgage sector declined during the fourth quarter of 2021, CIVIC Financial Services, a leading institutional private money lender providing financing to real estate investors, reported its mortgage production shot up nearly 60% compared to the fourth quarter of 2020. CIVIC’s elevated volume vaulted the lender past $6 billion in lifetime originations and 15,000 total units, solidifying its standing as a leading private money lender.
According to the Mortgage Bankers Association’s December Mortgage Finance Forecast, overall U.S. one- to four-unit residential mortgage originations sank 30% in the final quarter of last year from the fourth quarter of 2020. In stark contrast, CIVIC reported a 60% surge in quarterly real estate lending, bringing its full-year 2021 funding to more than 4,600 loans totaling $1.74 billion and pushing its lifetime production past $6 billion.
“Our record volume is a direct result of the adaptability, commitment and unshakeable resilience of the CIVIC team, which extends outside our walls and into the homes of our remote-working associates, including the 181 people who joined us this past year,” CIVIC Financial Services President William Tessar said. “I am proud to work alongside our partners and the entire CIVIC family to empower our customers to build wealth through real estate.”
Thanks to a number of planned program initiatives, CIVIC expects continued growth in 2022 as property investors fill the increasing demand for rental housing. The company’s initiatives include a recently launched no-point pricing option for mortgage brokers and real estate investors, which is typically hard to find.
“We are committed to bringing value to our clients,” Tessar added. “The new pricing option is the first of many exciting loan programs scheduled to launch in 2022, which includes providing new construction and short-term vacation rental financing.”
ABOUT CIVIC FINANCIAL SERVICES:
CIVIC Financial Services, LLC is a leading institutional private money lender specializing in the financing of non-owner-occupied investment properties. CIVIC helps investors leverage opportunities to grow their real estate portfolios and build wealth through real estate. As a direct lender offering an array of residential and multifamily financing solutions for retail, wholesale and correspondent channels, CIVIC maintains all operations in-house so loans are managed closely, quickly, and efficiently. For more information, please visit http://www.civicfs.com.