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Arvest Bank announced today that its mortgage division originated record volume in 2021, the third consecutive year it has set a new mark.
Arvest’s total 2021 mortgage loan volume of more than $4.77 billion eclipses the previous record of $4.68 billion set in 2020. Additionally, Arvest reported a record of more than $1.83 billion in purchase-money loans – loans used to buy a home, as opposed to refinances. Purchase volume has increased year-over-year for seven consecutive years.
The sustained growth in mortgage loan volume has run parallel to the bank’s commitment and investments in digital tools that are transforming the home loan process, particularly the steady growth in adoption of its Home4Me mobile app.
“Continued adoption of our digital tools, low rates and tremendous support from our mortgage associates and business partners allowed us to help more than 21,000 customers in 2021 and helping that number of families and individuals is extremely rewarding,” mortgage division president and CEO Matt Kendall said. “It’s also worth noting how we embraced changes such as allowing customers to sign documents remotely to maintain our service level under trying circumstances.
“Driving change and embracing innovation remain important to us as we strive to serve customers more efficiently and in the ways they prefer and expect. We believe our revamped Home4Me app is another tool that will help us continue our momentum and deliver solutions to our customers throughout 2022 and beyond.”
In North Central Arkansas, Arvest made 394 total loans totaling $63.1 million in 2021.
“It’s always a privilege to help so many people and families with their mortgage needs,” said Karolyn Ziemer, mortgage loan manager for Arvest in North Central Arkansas. “We know high demand and low inventory remain challenges, but we remain equally committed to finding solutions for those who choose us.”
“Our local mortgage team has worked tirelessly this past year with the increased volume,” said Mike Willard, president and CEO of Arvest in North Central Arkansas. “I couldn’t be more proud of our team and their dedication to our mission of helping people find financial solutions for their home purchasing and refinancing needs.”
Arvest is unique among most local lenders in that it services 99 percent of its mortgage loans, meaning that customers make their payments to Arvest and work directly with Arvest for any needs after their loan closes. Arvest currently services more than 270,000 mortgage loans, totaling more than $53 billion.
