SANTA ANA, Calif -- Plaza Home Mortgage Corp. reported June loan originations rose to a record $798 million, compared with $750 million in May and $404 million in June a year ago.
Plaza cited production growth at its loan offices outside California.
New loan applications in June improved to $1.1 billion from $1 billion in May and $541 million a year earlier. The month-end pipeline of loans in progress decreased to $1 billion from $1.1 billion a month earlier and $473 million a year ago.
"Our record June results are directly attributable to our loan offices outside California doing an excellent job gaining market share, which has been pushing our overall production to new levels," said chairman Jack French.
In June, Plaza loan offices outside California contributed 32% of loan originations, up from 28% in May and 17% in January.