An Extraordinary Third Quarter at CMG Financial
Q3 Full of Expansion and Accomplishments
CMG Financial experienced companywide growth for quarter three in 2014.
The Consumer Services channel, dedicated to helping consumers navigate the path of homeownership, opened fifteen new branches across the country in order to better serve consumers and their homebuying needs. Consumer Services is now licensed to lend in 48 states and the District of Columbia. In Q3, this channel outpaced their production forecast by 104%. The following cities opened a new CMG Financial branch with industry experts and professionals:
Edmond, OK (May Avenue)
Edmond, OK (Sonoma Park Drive)
Austin, TX (Steck Avenue)
The Woodlands, TX
Salt Lake City, UT
Wholesale Lending is pleased to report an increase in purchase volume to nearly 60%, over 24% in 2013, as well as a 32% increase in the non-delegated mini-correspondent channel over Q2. They have also expanded their presence in the Northeast through adding a robust team of Account Executives to fund brokered loans.
Correspondent Lending achieved 28% growth in Q3 over Q2 and established its innovative product development in the industry with the introduction of the new loan product non-warrantable condos. They also joined Lenders One, a national alliance of independent mortgage bankers, correspondent lenders, and suppliers of mortgage services, as a Preferred Investor. Correspondent Lending made strides in maintaining their reputation for being a flexible and agile channel dedicated to individualized client service and a commitment to mutual success.
CMG Financial proudly continues to expand, grow, and improve as a whole despite the bear housing market. While an unsteady mortgage industry continues to hold other companies back, CMG has found a company culture and business model that compliments the needs of their clients allowing them to rise above the obstacles and increase production.