Our record volume is a direct result of the CIVIC team’s adaptability, commitment and unwavering resilience. I am proud to work alongside our partners and the entire CIVIC family to enable our clients to build wealth through real estate.
REDONDO BEACH, CA (PRWEB)
January 20, 2022
While originations for the entire mortgage industry declined during the fourth quarter of 2021, Civic Financial Servicesa leading private institutional lender providing financing to real estate investors, announced that its mortgage production increased nearly 60% from the fourth quarter of 2020. CIVIC’s high volume pushed the lender to the over $6 billion in lifetime creations and 15,000 total units, solidifying its position as one of the leading private lenders.
According to the Mortgage Bankers Association December Mortgage Funding Forecastone- to four-unit overall residential residential mortgages in the United States fell 30% in the last quarter of last year compared to the fourth quarter of 2020. In contrast, CIVIC reported a 60% increase in quarterly home loans, bringing its full year funding in 2021 to over 4,600 loans totaling $1.74 billion and bringing its lifetime production to over $6 billion.
“Our record volume is a direct result of the adaptability, commitment and unwavering resilience of the CIVIC team, which extends beyond our walls and into the homes of our remote working associates, including 181 people who joined us last year,” CIVIC Financial Services President William Tessar said. “I am proud to work alongside our partners and the entire CIVIC family to enable our clients to create wealth through real estate.”
Through a number of planned program initiatives, CIVIC expects continued growth in 2022 as real estate investors respond to growing demand for rental housing. The company’s initiatives include a recently launched no-point pricing option for mortgage brokers and real estate investors, which is typically hard to find.
“We are committed to bringing value to our customers,” added Tessar. “The new pricing option is the first of many exciting loan programs slated to launch in 2022, which include financing for new construction and short-term vacation rentals.”
ABOUT CIVIC FINANCIAL SERVICES:
CIVIC Financial Services, LLC is a leading institutional private lender specializing in financing non-owner occupied investment properties. CIVIC helps investors take advantage of opportunities to grow their real estate portfolios and create wealth through real estate. As a direct lender offering a range of residential and multi-family financing solutions for retail, wholesale and correspondent channels, CIVIC keeps all operations in-house so loans are handled tightly, quickly and efficiently. For more information, please visit http://www.civicfs.com.
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