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Company Originates $5B in Mortgage Loans in 2019

Residential Mortgage Services Inc., 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. 

“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 Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.

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