Fremont Bank Experiences Substantial Increase in Residential Lending Due to Near Record Low Interest Rates
Bank has already originated and funded more than $2 billion in 2010; with a $4.2B goal
FREMONT, California - September 13, 2010 - As mortgage interest rates approach record low levels, Fremont Bank, a leading full-service mortgage lender in California, has seen a substantial increase in demand from its clients for residential mortgage lending. So far this year, the Bank has funded $2.2 billion in residential home loans, with a year-end projection of $4.2 billion.
To take advantage of the record low interest rates, clients are turning to Fremont Bank to reduce their monthly mortgage payments, consolidate their debt and take cash out to make improvements to their home or put into savings.
“Beyond these extraordinary funding numbers, we are extremely proud that we are able to help our clients and neighbors stay in their homes—while freeing-up their money to save or spend on other life necessities,” says Fremont Bank’s Vice President of Residential Lending Gary DeLuca.
“This is an unprecedented opportunity for qualified homeowner clients to capitalize on exceptionally low fixed interest rates,” adds DeLuca. “We take pride in originating and servicing these loans locally, and our clients ultimately benefit as it reduces their monthly payments while making homeownership more affordable.”
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 22 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.