Arvest Mortgage Breaks Record, Hits $2 Billion in New Mortgage Loans
Arvest Mortgage Breaks Record, Hits $2 Billion in New Mortgage Loans
Arvest Bank recently announced that, for the first time, Arvest Mortgage Company has originated more than $2 billion in new mortgage loans. When the $1 billion mark was achieved in June of this year, it was the earliest month the milestone was reached in ten consecutive years. The fact that Arvest Mortgage has reached the $2 billion mark indicates growing strength in the housing market, a robust environment for refinancing and an improving purchase-money market.
“At Arvest, our mission statement is ‘People helping people find financial solutions for life,’ and right now the record low rates are providing thousands of families in our communities an opportunity to improve their current mortgage rate, shorten their term, or buy their first home or next home. We are customer focused, and, by having over 150 mortgage lenders and a dedicated operations team situated throughout our footprint, we are there for our customers each day,” says Steven Plaisance, president and chief operating officer of Arvest Mortgage Company.
Record low rates have continued to spur refinancing throughout the mortgage industry, and a new, improved version of the government’s Home Affordable Refinance Program () has helped many people refinance who could not afford to in years past. The purchase-money market is also showing improvement. The industry continues to make corrections to ensure that there will be access to the long-term, fixed-rate mortgage money that mortgage companies have depended on for so many years.
Plaisance continues, “This milestone is exciting, and we look forward to working with all of our customers for years to come. At Arvest, we pride ourselves on being able to provide customers with service after the sale because we retain servicing on 99 percent of the loans we make. That means we maintain that close customer relationship after the loan closes, which allows us to help that customer again on a refinance or another home purchase.”
Updated 10-30-2012
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