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Residential Mortgage Services Loan Volume Increases to $8.5B

Residential Mortgage Services Inc. an independent retail, purchase-focused mortgage lender serving primarily the Northeast, Mid-Atlantic, and Eastern Seaboard markets, announced the company generated record mortgage loan volume of $8.5 billion in 2020, a 70% increase compared to $5 billion in 2019 and a 118% increase versus $3.9 billion in 2018.

"Our team members remain the driving force behind RMS' record-breaking production volume of $8.5 billion," said James Seely, President and CEO of RMS. "Despite numerous challenges caused by the pandemic, we quickly transitioned nearly all team members to a remote work environment for their safety and embraced our digital tools, including RMS Ready, to deliver a customer experience that features both automation and human interaction. Throughout 2020, our loan officers were fully supported by an integrated operations team that is committed to the highest level of customer service and delivering value to customers throughout the mortgage process. I am extremely proud of the amazing collaboration, adaptability, and effort demonstrated by all of our team members in 2020."

Seely added, "In 2021, we remain focused on achieving our mission of helping guide our customers home by offering a frictionless origination experience and giving back to the communities in which we operate."

In response to the COVID-19 pandemic, RMS leveraged its RMS Ready mobile app and web portal, which allows homebuyers to easily apply for a home loan, securely upload documents and stay up to date on their loan status. The app is paired with an experienced local loan officer, providing all the conveniences of cutting-edge technology along with a personal touch. The combination of the app with the local loan officer offers a simplified prequalification process and provides customers with a quick way to connect with their mortgage teams, apply for a mortgage, and receive active, timely updates throughout the process.

"Our success this year is a testament to the strong partnership between our sales and operations teams," said Robin Hawley, Senior Vice President of Business Operations of RMS. "Throughout the year, our leadership team across various departments had daily interactions to ensure open lines of communication for quick answers on questions and real-time course-correcting to deploy additional resources where needed. This process allowed RMS employees to work cross-functionally and serve the needs of our customers in the most efficient manner. We also placed a priority on recognizing and rewarding the incredible extra efforts of our employees, all of whom really appreciated periodically receiving gift packages at home ranging from cookies to gift cards to iPads."

About Author: David Wharton

David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at David.Wharton@theMReport.com.
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