Search markets
Search icon A magnifying glass. It indicates, "Click to perform a search".
Search markets
Search icon A magnifying glass. It indicates, "Click to perform a search".
Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

Residential Mortgage Services Originates Company Record $5 Billion in Mortgage Loans in 2019

PRESS RELEASE PR Newswire
Jan. 22, 2020, 07:45 AM

SOUTH PORTLAND, Maine, Jan. 22, 2020 /PRNewswire/ -- Residential Mortgage Services Inc. (RMS), a leading independent retail, purchase-focused mortgage lender, serving primarily the Northeast, Mid-Atlantic and Eastern Seaboard markets, today announced the company generated record mortgage loan volume of $5 billion in 2019, a 27.4% increase compared to 2018, when RMS originated $3.9 billion.

Residential Mortgage Services

"We are excited to have reached the $5 billion origination growth milestone," said James Seely, President and Chief Executive Officer of RMS. "More importantly, we are extremely proud of the continued commitment and dedication of all our team members, who are the driving force behind our culture of collaboration, industry-leading customer experience and our company's overall success. In 2020, we will remain focused on further optimizing our strong origination performance by adding high-quality loan officers, who are committed to both RMS and their personal goals, and operational professionals who are passionate about delivering a frictionless origination experience for our customers."

2019 Highlights

  • Generated record origination volume of $5 billion compared to $3.9 billion in 2018.
  • Closed more than 19,500 loans, an increase of 19% over 2018.
  • Purchase loans represented 73% of total volume, significantly higher than industry averages.
  • Average production per loan officer was $18.4 million, significantly above industry averages.
  • Customer satisfaction ratings continue to surpass industry benchmarks. 
  • #1 Purchase Money Lender in Maine and New Hampshire and #3 Purchase Money Lender in Massachusetts for full-year 2019; acknowledged as a top 100 lender for VA loans in 2019.
  • Opened three new branch locations in North Carolina and South Carolina; currently over 84 total branch locations.
  • Expanded to more than 275 loan officers and approximately 750 employees.
  • Added license in South Carolina; currently licensed in 23 states and the District of Columbia, with brick and mortar retail branch offices throughout 14 states.

Over the years, James Seely has transformed RMS into a leading retail mortgage lender, attracting an experienced leadership team and private equity capital to help drive the company's significant growth. With a model that combines state-of-the-art technology and high-touch client service, RMS has in place an efficient and effective origination process and a scalable retail origination platform to support the success of our loan officers. At RMS, loan officers are supported by a fully integrated operations team that is committed to the highest level of customer service and delivering value to customers throughout the mortgage process.

"Our operational infrastructure and experienced team have been key to RMS's success," said Robin Hawley, Senior Vice President of Business Operations of RMS. "By working hand-in-hand with our loan officers, RMS's operational team helps to deliver unparalleled customer service every day. We will continue to invest in our operational infrastructure to ensure the best people, technology and processes are in place to support our loan officers as they guide customers quickly and responsibly through the mortgage process and provide the right mortgage solutions to support customer needs."

About Residential Mortgage Services

Residential Mortgage Services, headquartered in South Portland, Maine, was founded in 1991. Currently, RMS employs more than 750 employees companywide, with approximately 275 loan officers and is a licensed lender in 23 states and the District of Columbia. RMS offers a wide range of mortgage products including conventional purchase and refinance home loans, as well as VA, FHA, USDA-RD and many state-sponsored loan programs. For more information on RMS visit the company's website at www.rmsmortgage.com.

Media Contacts
John Lovallo
(917) 612-8419
jlovallo@levick.com

Cate Cronin
(202) 738-7302
ccronin@levick.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/residential-mortgage-services-originates-company-record-5-billion-in-mortgage-loans-in-2019-300990742.html

SOURCE Residential Mortgage Services

Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.
Find News News