Home mortgage lenders: greater San Fernando Valley-based, ranked by dollar amount of mortgage lending in 2003.EXECUTIVE SUMMARY Record low interest rates continued to fuel the mortgage lending business in 2003 and drove substantial increases in the loan transactions at all lenders. Along with behemoths Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Home Loans Inc. and Washington Mutual “WaMu” redirects here. For the Washington, DC radio station, see WAMU. Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. , which both loaned in excess of $400 billion in 2003, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank were also big home mortgage lending players in the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. . However, those companies were unable to provide a breakout of their Valley business and, as a result, could not be included in the Business Journal's listing. WMC WMC Winter Music Conference WMC Weill Medical College (Cornell University) WMC Wisconsin Manufacturers and Commerce (Madison, WI) WMC Westchester Medical Center WMC Western Mining Corporation Mortgage Corp., which holds third place in the Business Journal's list this year, specializes in a category of lending the company calls alternate alternate /al·ter·nate/ (awl´ter-nit) 1. following in turns. 2. pertaining to every other one in a series. 3. occurring in place of another; acting as a substitute. a, mortgage loans to those who don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. meet the traditional requirements for prime loans. These are borrowers who may have high debt to income ratios or are unable to substantiate To establish the existence or truth of a particular fact through the use of competent evidence; to verify. For example, an Eyewitness might be called by a party to a lawsuit to substantiate that party's testimony. their income, but generally have good credit history, versus subprime borrowers with problematic credit histories. Metrocities Mortgage LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the No. 4 lender LENDER, contracts. He from whom a thing is borrowed. 2. The contract of loan confers rights, and imposes duties on the lender. 1. The lender has the right to revoke the loan at his mere pleasure; 9 Cowen, R. 687; 8 Johns. Rep. 432; 1 T. R. 480; 2 Campb. Rep. on the Business Journal's list, has seen dramatic growth and is among the largest private mortgage lenders in the area. Rounding out the top five is Ryland The name Ryland can refer to several things:
Unlike most of the other companies on the list, Ryland Mortgage's $2.3 billion in 2003 lending derives primarily from home purchase mortgages, a service the company offers along with its homes. As in 2002 when mortgage rates began to drop, refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. loans contributed largely to the growth of most mortgage lenders last year. --Shelly Garcia Gar·ci·a , Jerome John Known as "Jerry." 1942-1995. American musician who gained fame as the cofounder and lead guitarist of the folk-rock group the Grateful Dead (1965-1995). THE PACESETTER COUNTRYWIDE HOME LOANS INC. Home mortgage giant Countrywide Home Loans Inc. saw its loan volume increase by more than 72 percent in 2003, to a whopping $434.9 billion in home mortgage lending. The Calabasas-based company's lending activity recorded here does not include another division, Full Spectrum Lending, which specializes in subprime loans Subprime Loan A loan that is offered at a rate above prime to individuals who do not qualify for prime rate loans. Notes: Subprime loans tend to have a rate that is 0.1% to 0.6% higher than the prime rate. because that division's headquarters are in Pasadena Pasadena (păs'ədē`nə). 1 City (1990 pop. 131,591), Los Angeles co., S Calif., at the base of the San Gabriel Mts.; inc. 1866. . Even without the subprime lending  This article or section may deal primarily with the U.S. and may not present a worldwide view. activity, Countrywide garnered
the No. 1 position on the Business Journal's list.
(The Business Journal considered Countrywide's national lending activity for its ranking in the list because the company is headquartered here, Likewise, Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. Mutual's national activity was considered because it has a regional headquarters in Chatsworth Chatsworth, estate, Derbyshire, central England, near Chesterfield. It is the seat of the dukes of Devonshire. Begun in 1552, the present Classical-style Chatsworth House was rebuilt in 1686. .) As was the case with most mortgage lenders in 2003, the large majority of Countrywide's funding was done in refinance loans. And although refinance volume slipped in the fourth quarter of 2003, Countrywide CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Angelo Angelo externally austere but inwardly violent. [Br. Lit.: Measure for Measure] See : Hypocrisy Angelo asked by Isabella to cancel her brother’s death sentence, Angelo agrees if she will yield herself to him. [Br. Mozilo noted in the company's financial report for the quarter that "a 33 percent year-over-year increase in purchase volume helped to mitigate mit·i·gate v. To moderate in force or intensity. mit  i·ga tion n. the decline in refinance
volume.
"In addition, demand for less interest-rate sensitive products continued to be robust with fourth quarter year-over-year production volume increasing 145 percent for adjustable rate mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. , 54 percent for home equity loans, and 109 percent for subprime fundings" Mozilo said in the report. In addition to refinance and purchase loans, Countrywide also provides home equity loans through its Countrywide Home Loans division. The company also provides complimentary services including rifle, escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. and appraisal through LandSafe Inc. --Shelly Garcia
Purchase/
Total Loans Refinance
Company * 2003 * 2003
* name * 2002 * 2002
Rank * address (in billions) (in billions)
1 Countrywide Home Loans Inc. $434.80 129.8/305.1
4500 Park Granada $251.90 86.4/165.5
Calabasas 91302
2 Washington Mutual (1) 432.3 167.0/277.7
9200 Oakdale Ave. 1st floor 309.4 110.3/188.8
Chatsworth 91311
3 WMC Mortgage Corp. 8.2 3.9/4.3
6320 Canoga Ave. 4.2 2.3/1.9
Woodland Hills 91367
4 Metrocities Mortgage LLC 4.5 2.1/2.5
15301 Ventura Blvd. Suite D300 3.0 1.6/1.5
Sherman Oaks 91403
5 Ryland Mortgage Co. 2.3 NA/NA
6300 Canoga Ave. 14th floor 1.9 NA/NA
Woodland Hills 91367
6 United Pacific Mortgage 1.7 .6/1.1
18425 Burbank Blvd. Suite 622 1.1 .4/.7
Tarzana 91356
7 HMS Capital Inc. 1.7 na/1.7
5000 N. Parkway Calabasas 1.2 na/1.2
Suite 300
Calabasas 91302
8 Ownit Mortgage Solutions 1.0 .8/.2
21800 Oxnard St. Suite 240 0.6 .3/.2
Woodland Hills 91367
9 First Security Lending 0.4 .1/.3
2210 W. Olive Ave. 0.3 .06/.2
Burbank 91506
10 Pacific Financial 0.14 .05/.09
24007 Ventura Blvd. Suite 120 0.1 .05/.06
Calabasas 91302
11 Premier America Credit Union 0.12 .008/.08
19867 Prairie St. 0.2 .01/.2
Chatsworth 91311
12 Western Pacific Mortgage Corp.. 0.10 .04/.06
21300 Victory Blvd. #265 0.05 .02/.03
Woodland Hills 91367
13 Telesis Community Credit Union 0.04 .007/.03
9301 Winnetka Ave. NA NA/NA
Chatsworth 91311
14 Matadors Community Credit Union 0.022 na/.02
9401 Reseda Blvd. 0.02 na/.02
Northridge 91324
15 Fiscal Credit Union 0.021 001/.022
310 E. Colorado St. 0.02 001/.020
Glendale 91205
Profile
* year
Assets founded
Company * 2003 * offices
* name * 2002 * employees
Rank * address (in billions) (total/valley)
1 Countrywide Home Loans Inc. 97.9 1969
4500 Park Granada 58 500/NA
Calabasas 91302 NA/NA
2 Washington Mutual (1) 275.2 1889
9200 Oakdale Ave. 1st floor 268.2 2,869/NA
Chatsworth 91311 62,497/NA
3 WMC Mortgage Corp. 1.4 1955
6320 Canoga Ave. 0.74 3/1
Woodland Hills 91367 1003/858
4 Metrocities Mortgage LLC 0.3 1989
15301 Ventura Blvd. Suite D300 46/9
Sherman Oaks 91403 600/NA
5 Ryland Mortgage Co. 0.73 1978
6300 Canoga Ave. 14th floor 0.87 24/1
Woodland Hills 91367 338/38
6 United Pacific Mortgage 0.1 1990
18425 Burbank Blvd. Suite 622 0.1 8/1
Tarzana 91356 241/125
7 HMS Capital Inc. WND 1992
5000 N. Parkway Calabasas WND 1/1
Suite 300 120/NA
Calabasas 91302
8 Ownit Mortgage Solutions 0.20 1989
21800 Oxnard St. Suite 240 0.08 9/1
Woodland Hills 91367 175/NA
9 First Security Lending NA 1997
2210 W. Olive Ave. NA 3/2
Burbank 91506 75/73
10 Pacific Financial 0.0006 1994
24007 Ventura Blvd. Suite 120 0.0005 WND
Calabasas 91302 40/NA
11 Premier America Credit Union 0.8 1957
19867 Prairie St. 0.8 9/3
Chatsworth 91311 187/167
12 Western Pacific Mortgage Corp.. 0.1 1993
21300 Victory Blvd. #265 0.03 1/1
Woodland Hills 91367 32/32
13 Telesis Community Credit Union 0.3 1966
9301 Winnetka Ave. NA 8/8
Chatsworth 91311 150/150
14 Matadors Community Credit Union 0.1 1963
9401 Reseda Blvd. 0.1 1/1
Northridge 91324 35/35
15 Fiscal Credit Union 0.1 1935
310 E. Colorado St. 0.1 3/2
Glendale 91205 53/53
Company
* name
Rank * address Services
1 Countrywide Home Loans Inc. mortgage banking, loan
4500 Park Granada production and servicing
Calabasas 91302 prime loans
2 Washington Mutual (1) home loans, commercial real
9200 Oakdale Ave. 1st floor estate and specialty lending,
Chatsworth 91311 consumer and commercial
banking
3 WMC Mortgage Corp. WMC is a wholesale lender
6320 Canoga Ave. specializing in nonprime
Woodland Hills 91367 loan products to mortgage
brokers, bankers
4 Metrocities Mortgage LLC national direct lender with
15301 Ventura Blvd. Suite D300 mortgage banker and broker
Sherman Oaks 91403 capabilities
5 Ryland Mortgage Co. loan origination, title,
6300 Canoga Ave. 14th floor escrow and insurance
Woodland Hills 91367 brokerage services
6 United Pacific Mortgage mortgage banking and
18425 Burbank Blvd. Suite 622 brokerage
Tarzana 91356
7 HMS Capital Inc. residential refinances
5000 N. Parkway Calabasas
Suite 300
Calabasas 91302
8 Ownit Mortgage Solutions mortgage banking,
21800 Oxnard St. Suite 240 conduit/mortgage products,
Woodland Hills 91367 wholesale funding, master
servicing.
9 First Security Lending residential purchase,
2210 W. Olive Ave. refinance, commercial
Burbank 91506
10 Pacific Financial mortgage lending
24007 Ventura Blvd. Suite 120
Calabasas 91302
11 Premier America Credit Union commercial property loans,
19867 Prairie St. consumer loans/credit cards,
Chatsworth 91311 full range of deposit/
checking products
12 Western Pacific Mortgage Corp.. loans, insurance taxes and
21300 Victory Blvd. #265 escrow (residential and
Woodland Hills 91367 commercial)
13 Telesis Community Credit Union deposit accounts, consumer
9301 Winnetka Ave. loans, real estate loans,
Chatsworth 91311 small business loans
14 Matadors Community Credit Union checking, savings, IRAs,
9401 Reseda Blvd. car loans, home equity loans,
Northridge 91324 internet banking and bill
pay, certificates
15 Fiscal Credit Union home equity lines of credits
310 E. Colorado St. and loans, mortgage loans,
Glendale 91205 auto and other loans,
personal banking
Top Local Executive
Company * name
* name * title
Rank * address * phone
1 Countrywide Home Loans Inc. David Sambol
4500 Park Granada president, ceo
Calabasas 91302 800-796-8448
2 Washington Mutual (1) Marcia Lansdon
9200 Oakdale Ave. 1st floor senior vp
Chatsworth 91311 818-775-7781
3 WMC Mortgage Corp. Daniel W. Porter
6320 Canoga Ave. chairman, ceo
Woodland Hills 91367 818-592-2502
4 Metrocities Mortgage LLC Paul Wylie
15301 Ventura Blvd. Suite D300 ceo
Sherman Oaks 91403 818-981-0606
5 Ryland Mortgage Co. Daniel G. Schreiner
6300 Canoga Ave. 14th floor president
Woodland Hills 91367 818-251-4100
6 United Pacific Mortgage Randy Levine
18425 Burbank Blvd. Suite 622 ceo
Tarzana 91356 818-343-3599
7 HMS Capital Inc. Mark Theis
5000 N. Parkway Calabasas president
Suite 300 818-222-6075
Calabasas 91302
8 Ownit Mortgage Solutions William D. Dallas
21800 Oxnard St. Suite 240 chairman, ceo
Woodland Hills 91367 818-595-0200
9 First Security Lending Justin Aldi
2210 W. Olive Ave. ceo
Burbank 91506 818-841-2995
10 Pacific Financial Dave Elder
24007 Ventura Blvd. Suite 120 business development manager
Calabasas 91302 818-591-2580
11 Premier America Credit Union John Merlo
19867 Prairie St. ceo
Chatsworth 91311 818-772-4001
12 Western Pacific Mortgage Corp.. Ryan Addis
21300 Victory Blvd. #265 coo
Woodland Hills 91367 818-887-1100
13 Telesis Community Credit Union Luisa Avila
9301 Winnetka Ave. vp operations
Chatsworth 91311 818-885-1226
14 Matadors Community Credit Union Dale Verderano
9401 Reseda Blvd. president/ceo
Northridge 91324 818-993-6328
15 Fiscal Credit Union Michael Gomez
310 E. Colorado St. ceo
Glendale 91205 818-553-8270
na--not applicable
NA--Not Available
WND--Would Not Disclose
(1) Washington Mutual reported company-wide figures, but the
company was included in the listing because it operates
regional headquarters in the local area.
While every effort is made to ensure the accuracy and thoroughness
of the list, omissions and typographical errors sometimes occur.
Please send corrections or additions on chamber letterhead to the
Editor, San Fernando Valley Business Journal, 21600 Oxnard St.,
Suite 250, Woodland Hills 91367.
[c] 2004 San Fernando Valley Business Journal. This list may not
be reprinted in whole or in part without prior written permission
of the editor. Reprints are available from Reprint Management
Services, (800) 494-9051, ext. 157.
Researched by Shelly Garcia
Reprinted from the March 15, 2004 issue
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