McLean Mortgage Records Record Production in Q2

McLean Mortgage Corporation announced that the company closed $507 million in mortgage volume during the second quarter of 2016, an increase of more than 50 percent compared to the production levels achieved in the first quarter of 2016 and an increase of 17 percent over the second quarter of 2015.

“This quarter’s production represented record results for our company, as we exceeded the peak production quarter of the refinance boom of 2013,” said McLean Mortgage President Nathan Burch. “And while the mix of production has evolved since 2013, our production has continued to outpace the industry average with regard to purchase volume every year, including averaging over 75 percent purchases thus far this year. Many of our new branches have contributed to this performance with regard to purchase production, including Fredericksburg in Virginia; Frederick, Md.; and Washington, D.C.”

As a comparison to national performance, The Mortgage Bankers Association forecasts a growth in production of less than 50 percent, as compared to the first quarter, with purchases representing less than 55 percent of the industry’s total volume.

McLean Mortgage Corporation has been named a Top Mortgage Employer by National Mortgage Professional Magazine. In 2014, McLean was also named an Inc. 500/5000 company for its growth record during the previous three years. In addition, the company was cited as the ninth largest lender in the Washington, D.C. metropolitan area by the Washington Business Journal and the 66th largest lender in the nation by the Scotsman Guide for 2015.