Arvest Bank announced today that our mortgage division originated more than $1 billion in mortgage loans as of March 16, which is the earliest point in the calendar year – by about a month – we have reached this milestone. That includes 2020, when volume was up 110 percent from the same period in 2019.
This also represents the 19th consecutive year Arvest has originated at least $1 billion in mortgage loans, including both purchase-money and refinance loans.
“We couldn’t be more excited to have shattered a production record while helping so many customers in such a short amount of time this year, when many challenges related to COVID-19 still exist,” said Matt Kendall, president and CEO of Arvest’s mortgage division. “Our team members deserve a lot of credit for their drive and hard work – including lots of overtime – but again, our greatest joy comes from helping our customers realize successful outcomes in all their unique situations.”
Arvest’s overall volume of $1,000,132,099 – on 4,561 loans as of March 16, 2021 – was up from $619,037,576 on 2,857 loans as of the same date in 2020. That’s a 61.5 percent increase.
Refinance loans accounted for 72 percent of the total loan volume through March 16, compared to 60 percent during the same period in 2020. Arvest also made 1,291 purchase-money loans with a volume of $277,818,336 thru the same date, which is up from 1,250 loans and $251,015,859 in volume in 2020.
Arvest is unique among most local lenders in that we service 99 percent of our mortgage loans, meaning customers make their payments to Arvest and work directly with our associates for any needs after their loan closes.
“Regardless of loan type or the service needed, we just want to be here for our customers and continue to provide our communities with award-winning service for years to come,” Kendall said.