Commercial Mortgage Insight – NMP Skip to main content

Commercial Mortgage Insight

National Mortgage Professional
Dec 29, 2004

AmNet reports March figuresmortgagepress.comproduction numbers, loan fundings American Mortgage Network (AmNet) funded $1.2 billion of mortgage loans in March compared to $817 million in February. In March 2004, the company funded $877 million in mortgages, a year-over-year increase of 33 percent. For the first quarter of 2005, the company funded $2.7 billion in mortgages, compared to $1.9 billion in the first quarter of 2004, a year-over-year increase of 45 percent. AmNet's new loan applications in March were $1.9 billion, compared to $1.8 billion in February. Average loan fundings per workday were $50.7 million in March, compared to $43 million in February. Average daily new loan applications were $80.7 million in March, compared to $94.2 million in February. March had 23 working days while February had 19. Alt-A loans accounted for 28.5 percent of total volume in March, compared to 4.5 percent in March 2004. Collectively, higher margin products, including alt-A, sub-prime, home equity and second mortgage offerings, totaled 34.9 percent of total fundings, compared to 6.1 percent of total fundings in March 2004. These products accounted for 33 percent of total fundings in the first quarter of 2005, an increase of 5.6 percent for the same period in 2004. Headquartered in San Diego, American Mortgage Network originates loans for the national mortgage broker community. For more information, call (888) 373-3974 or visit www.amnetmortgage.com.
Published
Dec 29, 2004
Bankruptcy Court Judge OKs Financing For FGMC

Financing package will allow FGMC to continue to fund loans in its pipeline.

Industry News
Jul 05, 2022
Opteon Acquires Northeastern Appraisal Associates

This is the fourth acquisition Opteon has made in the last 12 months. 

Industry News
Jul 04, 2022
Lenders Complain FGMC Is 'Radio Silent' On Loans

Company said it would stop purchasing new loans in the wake of its mass layoff last week; seeking court-approved financing.

Industry News
Jun 30, 2022
AnnieMac Home Mortgage Acquires OVM Financial

Wants to expand its outreach into the Mid-Atlantic region.

Industry News
Jun 30, 2022
Ready Life Launches Black-Owned Fintech To Help Underserved Borrowers

Ready Life, led by two Black entrepreneurs, is taking aim at the racial wealth gap by starting a mortgage fintech.

Industry News
Jun 30, 2022
FGMC Files For Chapter 11 Bankruptcy Protection

FGMC notified laid-off 471 employees late Tuesday night that it would pay severance.

Industry News
Jun 30, 2022