New Hampshire Conventional Mortgages

As New Hampshire conventional mortgages continue to decline over the past year, Merrimack Mortgage has continued to work through the decline capturing a top five seat for all of New Hampshire's market share. As we have previously viewed this week, Merrimack Mortgage continues to rise and beat out powerhouses such as Wells Fargo and Countrywide in government insured mortgages and now we find them coming close in conventional mortgages. The graph shows the monthly conventional purchase mortgage originations over the past years and one can see the decline in these mortgage sales. What is continuing to help Merrimack in this depressed New Hampshire home purchase market?

New Hampshire VA Mortgages

While Merrimack Mortgage approaches Wells Fargo in FHA mortgages, they are dominating originations of VA mortgages in New Hampshire. Out of all the VA mortgages originated during the current quarter, Merrimack Mortgage is responsible for over a fifth of those, doubling the number of Wells Fargo. Through the end of the forth quarter in 2007 Merrimack, trailed Wells Fargo in market share. During the first two quarters of 2008 Merrimack’s market share has exceeded Wells Fargo market share. In the most recent quarter ending June, Merrimack Mortgage lead all lenders in New Hampshire with a 20.8% market share and Merrimack exceeded Wells Fargo by nearly 10%.

Is the national elephant capable of retaining their top position in New Hampshire or will the local strong man remain the giant?

Merrimack Mortgage is Growing the Fastest in New Hampshire

Merrimack Mortgage of Concord, NH is making the most of the growth of FHA mortgages in New Hampshire. So far this year, Merrimack Mortgage has moved into second place just behind Wells Fargo Mortgage with a 6.94% market share.

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For the first 6 months of 2007, Merrimack Mortgage was ranked 13th with less than a 2% market share. $19.5 million year over year increase in FHA originations makes Merrimack Mortgage the fastest growing mortgage originator of FHA mortgages in New Hampshire.

FHA Lending in New Hampshire Sets Record in June 2008

In New Hampshire, we have not seen this number of FHA mortgages in a single month since at least before 2003. More than 350 FHA mortgages in a single month. The mortgage amounts reached new monthly records for the past three months.

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