April 12, 2011 > Fremont Bank originates $950M in residential financing
Fremont Bank originates $950M in residential financing
Submitted By Lee Dawson
Fremont Bank recently announced the first year results of its wholesale mortgage division-ending 2010 with $950 million in residential financing, with approximately $400 million originating from its new Southern California operation in Aliso Viejo. The wholesale lending division was a key component to the Bank's residential funding growth from $4 billion in 2009 to more than $4.5 billion in 2010-a 12.5% increase.
"We remain financially strong and the high quality of our credit has helped us partner with local mortgage brokers and lenders to make them competitive in their respective California markets," said Brad Seibel, Fremont Bank's director of residential lending.
In addition to Fremont Bank's Southern California Residential Lending Center, the bank also opened wholesale operations in Danville (Northern California) and Roseville (Central Valley), and is looking to further expand in California and other neighboring states.
"Wholesale lending continues to be an important strategy for us and our strong commitment to residential lending," said Fremont Bank's President Andy Mastorakis.