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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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.

El Paso County, Colorado, the Top county for VA Mortgages

El Paso County, Colorado tops the list for the most VA mortgage loans (in dollars) during the first quarter of 2008. El Paso County was the leading county for VA mortgages for all of 2007. It appears that the number of VA mortgages in 2008 will out pace 2007's number of mortgages by 30 percent.