November 25, 2009 > Fremont Bank increases market share ranking for home mortgage
Fremont Bank increases market share ranking for home mortgage
Submitted By Casey Boggs
Fremont Bank, a leading full-service community bank in Northern California, has significantly increased its ranking since 2007 as one of the top home mortgage originators in California and the Bay Area communities the Bank serves. In 2008, Fremont Bank originated $942.9 million home loans in California and $718.6 million in 2007, a 31 percent increase. Comparing home loan originations from all California financial institutions during the same time frame, mortgage lending decreased 45 percent.
Already in 2009, Fremont Bank has originated $3.5 billion in home loans, making it one of the top home loan originators in the nation. According to the SourceMedia's Mortgagestats.com, Fremont Bank dramatically increased its ranking in home mortgage originations from 2007 to 2008 in Fremont, Hayward, Santa Clara County, compared to the overall figures from all applicable financial institutions during the same time frame. "We credit the remarkable increase in our home loan originations to our calculated strategy to stay true to providing our qualified clients with prime, traditional loans, while steering clear of the exotic, sub prime lending products that have since vanished," says Fremont Bank's Vice President of Residential Lending, Gary De Luca. "Our continued work with Fannie Mae and Freddie Mac, coupled with the recent drop in interest rates, has been a key factor in boosting our ranking in the state and the Bay Area communities we serve."