There was a 10% increase in the number of real estate loans produced in California during the first six months of this year as compared with activity during the same period of 1984.
That was a finding of the California Mortgage Bankers Assn. in the organization's semiannual survey of loan production and servicing activity by member firms. The survey also indicated that the number of loans this year represented a corresponding 4% growth in dollar volume of loans produced.
Among the other findings was that FHA/VA single-family loan originations pushed ahead 52% in dollar volume, reflecting a 31% increase in FHA/VA loan originations, while multi-family (more than four units in a single project) residential loan originations increased 61%, matched to a 189% increase in dollar volume for this category. In addition, the survey showed that adjustable rate mortgages continued strong with a 16% increase in number originated.
Mortgage bankers account for about one-fourth of all residential mortgage loan originations, making them the second largest source of home mortgages and a significant portion of financing for commercial properties as well.