Company grows in a declining market
GREENWOOD VILLAGE, CO, – Broker Magazine, a mortgage loan industry trade publication, ranked Clarion Mortgage Capital as the number one mortgage brokerage firm for 2007. In a year marked by foreclosures and shrinking loan volume, Clarion rose to the top by attracting professional loan originators with its attractive mortgage rates and sales commission structure.
“We have such good loan officers,” said Chris Dietz, Branch Manager for Clarion's main office in Greenwood Village, Colorado. “Working with their own referral sources, they were able to stay busy even though 2007 was a tough year. When other companies went out of business, we were able to attract their best people.”
“Clarion is an easy place to do business,” said Dietz. “We have a state of the art web infrastructure, great back office support and our loan officers feel truly independent.”
Although its loan volume dropped from $3.3 billion in 2006 to $2.7 billion in 2007, the company grew in two main ways – by increasing its correspondent (mortgage banking) business, and by hiring new loan officers. Correspondent lending offers lower mortgage rates and fees than traditional mortgage loan brokerage, but involves higher risk for the company – flawed mortgage loans stay with the company, posing a significant drag. Clarion has managed that risk by doing quality control to make sure that its loans meet its investors' stringent requirements.
Compounding Clarion's accomplishment in 2007 is the fact that most of its business comes from Colorado, California and Missouri – unlike many of its competitors, Clarion is not licensed in all 50 states.
About Clarion Mortgage Capital
Clarion Mortgage Capital was founded in 1996 as a low cost provider of mortgage credit, managing efficiencies through internet and intranet communications. Clarion employs high-tech tools to provide access to information needed to get the best mortgage rates and achieve significantly higher volumes. Its lower cost, higher volume stance combined with its internal quality control focus makes the company popular with portfolio aggregators, providing more options and better rates for consumers. Recognizing that consumers like being able to get data directly from the web but want a human face when it comes to buying a home, refinancing or investing in real estate, Clarion has a strong culture of integrity and respect for the individual. Clarion’
Contact: Jordan Graham, Clarion Mortgage Capital,
http://www.clarionmortgage.us
720-297-8002 or jordan@clarionmortgage.us
