FORT MILL, S.C., April 18, 2017 /PRNewswire/ -- Movement Mortgage, LLC, will originate $15 billion in residential mortgages in 2017, a 25 percent increase on last year's record-setting results, despite forecasts that the overall mortgage origination market will contract more than 25 percent.
In addition, Movement is investing millions of dollars in new technology, facilities and its nonprofit Movement Foundation, according to the company's inaugural Impact Report.
The Movement Impact Report, released today, is the company's first annual report to stakeholders on its business operations, growth and community investments. The company set new highs in total volume, profit, national market share and employees in 2016.
In 2016, Movement financed more than $12 billion in residential mortgages — among the top 10 nationally in purchase mortgage lending. Movement also introduced the Easy App digital mortgage experience, which served approximately 20,000 applicants in its first three months. Movement in 2016 created nearly 1,000 new jobs, opened a $22 million headquarters and increased its total investment in communities through the Movement Foundation to $27 million.
"Our goal is to transform our industry, corporate culture and communities through our business. These results are not our focus, but rather the evidence that we are making progress in our mission to be a movement of change," Founder and Chief Executive Casey Crawford says. "While we are certainly grateful and humbly praising God for our results so far, we're not satisfied. There are still many thousands of families and communities for us to love and serve. The best is yet to come."
Movement Easy App
- In October, Movement Mortgage launched a digital mortgage platform to simplify the application process, improve accessibility and transparency, and boost the overall experience for homebuyers.
- Approximately 20,000 files were submitted through the Easy App from October to December, with the average user completing the entire experience in only 30 minutes.
- Movement achieved loan volume of $12 billion in 2016, serving more than 55,000 families.
- The addition of 201 branches and five states in 2016 brings Movement's total to 662 branches in 47 licensed states.
- New $22 million National Sales Support Center in Fort Mill, S.C. opened in 2016. It now houses over 800 employees.
- Former South Carolina Governor Nikki Haley welcomed employees to the new space when it opened. "To see this beautiful building and to see the energy, you totally get why Movement Mortgage is one of the fastest growing companies in the nation," she said.
- A planned second building at the headquarters campus will add 700 more jobs over the next five years, and a 100,000 square-foot operations campus in Norfolk, Virginia will open in May to house 750 employees.
- Last year Movement's employee care program, Love Works, gave away $1 million in grants to 366 employees facing unexpected financial burdens.
- In 2016, Movement launched a 90-day debt loss challenge, #loseamillion, that resulted in over $2.8 million in employee personal debt eliminated across the company, almost triple the original goal.
- A $12 million investment from the Movement Foundation seeded startup costs for Movement School, a tuition-free charter school opening in Charlotte, N.C. this fall.
- Movement Foundation reached outside of the U.S. in 2016 to purchase an 1,100-acre farm in Uganda through an investment of more than $1 million. A local staff of 50 farmers, supervisors, technicians and other workers will address hunger, poverty and joblessness through the farm.
- A partnership with Samaritan's Feet led Movement volunteers to distribute shoes to over 6,300 underserved children in Tijuana, Mexico and across the U.S.
- The Movement Center, a $3 million investment from the Movement Foundation, continues to give local ministries and nonprofits a low or no-cost co-working space for collaboration and community outreach.
About Movement Mortgage
Founded in 2008, Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture and communities. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company employs more than 4,200 people, has more than 600 branches in the U.S. spanning across 47 states. Its non-profit organization, The Movement Foundation, has reinvested more than $27 million in communities to date. For more information, visit https://movement.com/impactreport/.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/movement-mortgage-forecasts-15-billion-loan-volume-25-increase-in-2017-300440201.html
SOURCE Movement Mortgage