Mortgage Loan Originations top $1 Billion for 6th consecutive year
Tulsa, OK., (January 13. 2009)—Arvest Bank today released results of its mortgage lending and servicing activities in 2008. For the sixth consecutive year, the bank originated more than $1 billion in new mortgage loans. Arvest currently services $4.9 billion in mortgage loans
While the National Mortgage Banker’s Association predicted mortgage volumes to decrease by more than 20 percent in 2008 compared to 2007, Arvest is defying that trend in both the volume and value of loans originated through its 130 mortgage loan officers spread across 220 banking locations in four states. The company originated mortgage loans totaling $1.04 billion in 2008 compared to $1.13 billion in 2007, or a decrease of less than 8 percent.
“While some states have suffered, Oklahoma is doing well,” said Steven Plaisance, executive vice president Arvest Mortgage. Plaisance, who also serves as the president of the Oklahoma Mortgage Bankers Association, says now is a great time to buy or refinance. “We want to underscore local credit is available, and the terms are reasonable. If someone is considering buying or refinancing, I suggest he talk with his banker.”
“We are always here to help,” said Don Walker, Arvest Bank, Tulsa president and CEO. “We service 99% of our loans locally, making it as easy as possible for people to do business with us. They can apply for loans in person or online. Our service offerings are very flexible.”
Arvest Bank operates more than 200 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a network of 16 locally-managed community banks, each with its own board of directors and management team. These banks serve customers in 90 communities with 12-hour weekday banking at most locations. Arvest also provides a wide range of banking services including loans, deposits, treasury management, asset and wealth management, life insurance, credit cards, mortgage loans and mortgage servicing. Arvest operates a mortgage company, asset management company, insurance division and mortgage servicing company.