Courtesy / RMS
James R. Seely, RMS president and CEO
January 23, 2020
South Portland mortgage lender reports 27% growth
By Staff
Residential Mortgage Services Inc., a South Portland-based mortgage lender, hit a milestone for its business during 2019, generating $5 billion in loans for the first time.
That total is up 27.4% from the volume in 2018, when the company originated loans amounting to $3.9 billion, RMS said Wednesday in a news release.
The firm closed 19,500 loans last year, an increase of 19% over 2018. Purchase loans represented 73% of the total volume, which RMS said is significantly higher than industry averages.
"We are excited to have reached the $5 billion origination growth milestone," said James R. Seely, RMS president and CEO. "More importantly, we are extremely proud of the continued commitment and dedication of all our team members."
RMS also opened three branches during 2019, in North Carolina and South Carolina. Those additions bring the lender’s footprint to 84 branches across 14 states. RMS has eight branches in Maine.
Residential Mortgage Services provides a range of loan processing, underwriting and direct lending services and is licensed in 23 states and the District of Columbia. Founded in 1991, RMS employs 750 people nationally.
Most Recent
Most Recent
0 Comments