Westmark Group Holdings Inc. announced Monday that subprime mortgage loan production continued to rise in the first quarter, by 85% from a year earlier to $85.7 million.

Mark D. Schaftlein, president and chief executive officer, said the company aims to generate $500 million of subprime mortgages by yearend. Through its Westmark Mortgage Corp. the company mostly originates, buys, and resells nonconforming residential mortgage loans.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.