Fremont Bank Increases Market Share Ranking
For Home Mortgage Originations For Third Straight Year
Sound lending practices and work with Fannie Mae and Freddie Mac
propels Bank's home mortgage lending prominence in California and Bay
Area
FREMONT, California - November 19, 2009 - Fremont
Bank, a leading full-service community bank in Northern California,
has significantly increased its ranking since 2007 as one of the top
home mortgage originators in California and the Bay Area communities
the Bank serves.
In 2008, Fremont Bank originated $942.9 million home loans in California
and $718.6 million in 2007—a 31 percent increase. Comparing
home loan originations from all California financial institutions
during the same timeframe, mortgage lending decreased 45 percent.
Already in 2009, Fremont Bank has originated $3.5 billion in home
loans, making it one of the top home loan originators in the nation.
According to SourceMedia’s Mortgagestats.com, Fremont Bank
dramatically increased its ranking in home mortgage originations from
2007 to 2008 in each of the following Bay Area communities the Bank
serves (compared to the overall figures from all applicable financial
institutions during the same timeframe):
- Oakland, Fremont, Hayward (39% increase)
- 2007-$364.6 million
- 2008-$507.6 million
- 43% decrease for all Oakland, Fremont, Hayward financial
institutions during the same timeframe
- Alameda County (48% increase)
- 2007-$257.1 million
- 2008-$381.3 million
- 40% decrease for all Alameda County financial institutions
during the same timeframe
- Contra Costa County (17% increase)
- 2007-$107.5 million
- 2008-$126.2 million
- 46% decrease for all Contra Costa County financial institutions
during the same timeframe
- Santa Clara County (61% increase)
- 2007-$87.9 million
- 2008-$141.6 million
- 34% decrease for all Santa Clara County financial institutions
during the same timeframe
“We credit the remarkable increase in our home loan originations
to our calculated strategy to stay true to providing our qualified
clients with prime, traditional loans, while steering clear of the
exotic, subprime lending products that have since vanished,”
says Fremont Bank’s Vice President of Residential Lending, Gary
De Luca. “Our continued work with Fannie Mae and Freddie Mac,
coupled with the recent drop in interest rates, has been a key factor
in boosting our ranking in the state and the Bay Area communities
we serve.”
To further expand its residential lending in California, Fremont
Bank will open a Residential Lending Center on December 1st in Aliso
Viejo—led by financial industry veteran Brad Seibel. This marks
the Bank’s first operation center in Southern California, yet
is a natural expansion to continue serving its existing SoCal clients,
while providing new clients with much needed traditional mortgage
lending options.
About Fremont Bank
Fremont Bank (www.fremontbank.com)
is the leading full-service community bank in Northern California.
Founded in 1964, Fremont Bank is one of the oldest independent family
owned and managed banks in the region and focuses on personalized
service for individuals and businesses. It serves communities through
23 branches and seven additional ATMs throughout the Greater Bay Area.
Exceptional client service is the cornerstone of Fremont Bank's business.
Accommodation of customer needs in a friendly, personal atmosphere
characterizes the Bank's culture. |
