NavyArmy Home Lending lends record $326 million in home loans
Uncertainty and unpredictable staffing brought on by COVID-19 did not stop NavyArmy Home Lending from shattering their single year loan volume record. NavyArmy extended $326 million in home loans in 2020, an astonishing $53 million improvement from their previous high-water mark. NavyArmy received 7,370 home loan applications in 2020, a 26% increase from 2019. Record low rates created an unforeseen refinance rush stretching processing and close times to all-time highs. NavyArmy leaned on their Mortgage Loan Originator (MLO) experience, up front underwriting and extra efforts from their processing team to deliver industry best closing times at a time when many lenders increased rates to slow down production.
“There are several hidden success stories behind this headline: 1. We extended keys to 583 families in 2020 including $106 million in new purchase and construction transactions. 2. 70% of our home loan members were new to NavyArmy and 3. The team’s performance this year was incredible! The leaders and team maneuvered through some unprecedented and turbulent times” said, Chief Lending Officer Roman Escobar.
At NavyArmy it isn’t just about the numbers, our Home Lending was just voted “2020 Best Mortgage Lender” published by Corpus Christi Caller Times, nominated and voted by local consumers, a compliment to their growing Home Lending program.
