New American Funding Smashes 2014 Loan Production Numbers
- Jul. 14, 2015
New American Funding, a national mortgage banker, today announces record-breaking production numbers for 2015. The company exceeded its own unit record for the month of June by funding 3,294 home loans. New American Funding reported $5.5 billion in total dollar volume for 2014, with 18,880 total loan units funded. While the 2014 numbers are substantial, New American Funding has already funded over $5 billion this year, and will have exceeded all of 2014’s volume by the completion of July 2015.
Current industry trends make New American Funding’s growth even more notable. According to the Scotsman Guide, a monthly publication geared toward mortgage originators, the combined production volume of the top 25 retail mortgage lenders in the U.S. has decreased from 2013 to 2014. During this same period, New American Funding’s production numbers increased by 40%.
“I witness the team of professionals at New American Funding demonstrate their character, day in and day out. We’re here to help people, we love what we do, and it shows,” commented Christy Bunce, COO of New American Funding, “I’d like to say I’m astounded by these numbers, but they come as no surprise. This is what happens when your employees treat people fairly and do things the right way; people want to work with you.”
The privately owned mortgage lender has seen rapid growth in their retail platform and number of employees as well. They opened their first retail branch in 2012 and now have 83 branches in operation across the U.S., the most recent additions in El Paso, TX. Since 2013 New American Funding’s employee count has grown from 684 to 1,766 nationwide.
With in-house loan origination, processing, underwriting, funding, and servicing, New American Funding offers considerably faster closing times than their competitors. They have earned a reputation of efficiency in the mortgage and real estate industries and are gaining market share at a rapid rate.