CMG Financial Celebrates Record-Breaking Month in May 2024, Demonstrating Remarkable Growth Amid Industry Contraction

This article was originally published on newswire.com

SAN RAMON, Calif., June 26, 2024 (Newswire.com)
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CMG Financial, a leading privately-held mortgage banking firm, is proud to announce record-breaking growth in May 2024. CMG Financial achieved a monthly funding of $2.61 billion last month, with a record-breaking $1.96 billion coming from its retail division, CMG Home Loans. In addition to the company’s overall growth, hundreds of loan officers have broken their personal production records in the past three months. This success – both individually and organization-wide – underscores CMG’s ability to thrive and grow in an environment where many mortgage companies are contracting.

Factors Behind CMG’s Growth

Recently, CMG Home Loans went from the #13 lender in the nation to the #6 retail lender in the nation according to Scotsman Guide. It also was the top growth lender of 2023, climbing 19.9% while other top lenders were losing ground. CMG has seen notable growth in size over the past year with the addition of three new companies and retail acquisition of Homebridge Financial Services. While this has certainly been a contributing factor to the company’s increased production levels, it’s not the only factor. Originators are breaking their own records at CMG, thus contributing to the company’s overall success.

Celebrating Record-Breaking Originators

Out of the loan officers who have been at CMG for more than a year, 291 have broken their prior CMG production records in the past three months:

• 156 originators had record-breaking production of at least $2 million
• 94 originators had record-breaking production of at least $3 million
• 49 originators had record-breaking production of at least $4 million
• 29 originators had record-breaking production of at least $5 million
• 19 originators had record-breaking production of at least $6 million

Here are just a few of our record-breaking originators:

• Justin H.: $29.59 million in April (30% over prior record)
• Daniel M.: $18.31 million in May (second production month at CMG)
• Tyler H.: $16.87 million in March
• Tyler B.: $14.38 million in May (49% over prior record)
• Chad E.: $14.02 million in April (77% over prior record)
• Robert G.: $11.74 million in May (22% over prior record)
• Harrison G.: $10.66 million in April (22% over prior record)
• Andrea W.: $9.98 million in March (54% over previous record)
• Nicolas C.: $9.8 million in April (3.4X over prior record)
• Matthew D.: $8.2 million in April (more than doubled prior record)
• Philip M.: $7.9 million in May
• Ben G.: $8.59 million in April

Driving Growth Through Innovation

CMG Financial’s growth can be attributed to its relentless focus on innovation and providing loan officers with the tools that give them a competitive advantage and allow them to serve more customers in more ways. Some of those products include:

• All In One Loan™: First-lien HELOC linked to a checking account designed to significantly accelerate mortgage payoff
• HomeFundIt™: The only GSE-approved platform in the U.S. that allows home buyers to raise money for their down payment online
• List & Lock™: Allows sellers to purchase and advertise discounted interest rates on their listings, complete with automated marketing & promotional material
• Build & Lock™: Builder Spec Lock & Builder Forward with automated marketing & delivery
• Construction Financing: Including one- and two-time close
• Non-QM & Jumbo: Range of programs supporting unique borrower needs including interest only, bank statement qualification, and more
• HELOCs & Second Mortgages: Variety of programs to ensure our customers can tap into their equity when the needs arise

Commitment to Excellence

“More than just a celebration of numbers, this achievement is a testament to our team’s unwavering commitment to excellence and innovation,” said Christopher George, CEO and President of CMG Financial. “Our ability to grow while others contract is a direct result of our strategic focus on empowering our loan officers and delivering exceptional customer experiences.”

CMG Financial’s continued success is a reflection of its core values and dedication to making homeownership accessible through innovative products and services. As the company looks to the future, it remains committed to setting new benchmarks and driving positive change in the mortgage industry.

For more information about CMG Financial and its growing opportunities, visit https://join.cmghomeloans.com.

About CMG Financial

CMG Financial is a well-capitalized mortgage bank founded in 1993 by Christopher M. George, a former Mortgage Bankers Association Chairman. CMG makes its products and services available to the market through three distinct origination channels: retail lending, wholesale lending, and correspondent lending. CMG also operates seven joint venture companies with builder & realtor partners, holds an impressive MSR/servicing portfolio, and serves the capital markets of fixed-income trading & sales through CMG Securities. CMG currently operates in all states, including District of Columbia, and holds approvals with FNMA, FHLMC, and GNMA. The company is consistently recognized as a top-producing lender and top mortgage employer, and it prides itself on helping clients achieve the dream of homeownership through product innovation and streamlined servicing.

Media Contact

Annaugh Madsen

Phone: (667) 260-6360

Email: amadsen@cmgfi.com

Source: CMG Financial