Down Goes Conventional Purchase Mortgages!

We are tallying up thee totals for 2009 conventional mortgages.  The chart below shows the mortgage data we collected.  The total number of conventional purchase mortgages continues to reach new lows.  You are feeling it in your sales but hang on!  This year will be a bottom and an up tick should be visible soon!.

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Later posting will identify emerging mortgage markets in the U.S. hopefully it is a market near you!.

Cherry Creek Mortgage Wins Colorado FHA Gold

Cherry Creek Mortgage captures first place among all FHA mortgage originators in Colorado for 2009. Cherry Creek, previously ranked third in FHA originations, edged out a lead over Wells Fargo Mortgage.

The data table below shows the FHA mortgage lending volume and market share of the top 10 FHA originators in Colorado for 2009 and their changes over the prior year.

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Hot FHA and VA Mortgage Market in DC and Northern Virginia

Northern Virginia and DC metro are witnessing a robust and growing FHA and VA mortgage origination market.   The chart below shows continuous growth in FHA and VA mortgage originations in the DC and Northern Virginia division of the Washington Metro area.  Each month experienced an increase in mortgage originations over the same month in the prior year. Perhaps this snow storm will result in a backlog at closing offices and court recordings.

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Other Note (not very related):
While we dig out of from the snow storm in Northern Virginia, there are not going to be many mortgage closings today. Court houses are closed. People cannot get to their settlement offices. Would a mortgage lender fail to extend a closing deadline by a few days on account of snow?. Anyone who knows of a loan deal to fail because of this storm, let us know about it in a reply post.

Colorado Conventional Mortgage Market Contracting While FHAVA Expands

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The chart above shows the monthly number of conventional purchase mortgages captured from 22 metropolitan area counties in Colorado since January 2005.  The trend shows a continuous contraction of sales for this mortgage product in Colorado since through December 2009.

The next chart (below) shows the number of monthly FHA and VA mortgage originations from all areas of Colorado since January 2005.  The trend shows continuous growth in sales of government insured purchase mortgages. 2009 was the best of the past 5 years for FHA and VA mortgage products in Colorado.

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Wells Wipes Out the Mortgage Competition in Colorado!

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Wells Fargo Mortgage, with more than a 17 percent share, is the conventional mortgage origination leader in Colorado for 2009.  No other lender appears to come close.  The combined mortgage originations of  Bank of America and Countrywide hardly read 7 percent of the market.  Two local lenders, namely Cherry Creek and Megastrar Financial, both from Denver, have accumulated an impressive share of mortgage sales in Colorado up against the large national lenders.