DALLAS, Dec. 20, 2010 /PRNewswire/ -- NexBank, a North Texas leader in banking and financial services, has announced continued strong performance from its mortgage and warehouse lending operations. The mortgage division of NexBank experienced 30 percent growth during the second half of the year due to increased loan production generated mostly from its warehouse mortgage group, and an intent focus on business development of the mortgage and warehouse lending operations.
"The management team and I are committed to consistent growth. We strongly believe this can be accomplished with a continued concentration on the company's core operating businesses, which includes the mortgage and warehouse lending divisions," said Davis Deadman, NexBank President and CEO. "This success is a direct reflection of the mindset of our executive leadership. We saw a void in the market, and then an opportunity for NexBank not only to fill it, but provide a greater service to our current clients."
"Despite the lagging economy, our growth is strong," said Jed Meaux, Vice President and Director of Mortgage and Warehouse Lending operations for NexBank. "Response has been positive from the start – and owners are asking for additional capacity. The high response also is a result of our service levels – we maintain high performance expectations, including 48-to-72 hour turn times," Meaux noted of his loan production team.
"The warehouse lending product allows mortgage bankers and brokers to expand their business capacity with access to capital while maintaining control. This has been a winning strategy for us," said Meaux. "The end result is consumers have more options to choose from."
Since many big banks closed their mortgage warehouse lines, the availability of credit has been low for small mortgage banking companies and mortgage brokers. "With the lines of credit we're offering, NexBank has realized an overwhelming positive response from current clients as well as new customers. Small mortgage bankers have found us to be the financial partner and business support they need, and with our help, they've been able to impact their profitability and agility in the marketplace," said Meaux.
Meaux noted he sees an increased number of brokers who become bankers by obtaining warehouse lines of credit, allowing NexBank to add local mortgage bankers and brokers who seek the professionals in NexBank's Mortgage Division.