January 27, 2010 > Fremont Bank's residential mortgage book increases by more than $4 billion in 2009
Fremont Bank's residential mortgage book increases by more than $4 billion in 2009
Submitted By Casey Boggs
Fremont Bank, a leading full-service community bank in Northern California, financed more than $4 billion in both purchase and refinanced mortgages to over 17,500 qualified applicants in 2009, exceeding its 2008 lending of $1.08M and 5,222 loans. Internet applications increased from 693 in 2008 to 3,152 in 2009 and proved to be a convenient option for clients.
"In a challenging economy, we're eager to help our clients find ways to make their homes more affordable by lowering their interest rate and increasing disposable income, which ultimately can be re-distributed back into our communities," says Fremont Bank's Vice President of Residential Lending Gary De Luca. "Our Bank's founder had the foresight to build a strong residential lending infrastructure that other community banks don't possess. This provides our clients a trusted and proven option other than going to a big bank or a mortgage broker. Our clients enjoy the safety and security that comes with dealing with a reputable, established bank, and the local personal touch that they experience with Fremont Bank."
In 2009, Fremont Bank significantly developed its mortgage lending operations by launching new sales channels and programs, such as offering FHA products, opening both a Danville and Southern California Residential Lending Center and increasing its team of loan officers to service each of the Bank's 22 locations.
"By taking advantage of our partnerships with key investors like Fannie Mae and Freddie Mac, expanding our services and growing our mortgage lending footprint, we are in an excellent position to serve both our current and future clients' mortgage needs," concluded DeLuca.