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Article: Mortgage companies grabbing market share. (Finance Monday)
- Article from:
- Crain's Cleveland Business
- Article date:
- October 25, 1993
- Author:
CopyrightCOPYRIGHT 1993 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Two of Cuyahoga County's five largest mortgage originators aren't savings and loans, or even banks. They're mortgage companies.
And both trace their roots no further back than 1988.
Freedom Mortgage Corp. in Independence and Real Estate Mortgage Corp. in Beachwood together made 9.5% of all first mortgages in the county in the first eight months of this year, according to Amerestate Inc., a Cincinnati company that tracks home lending.
When Amerestate began monitoring home mortgage activity in 1986, none of the top five home lenders in Cuyahoga County were mortgage companies. Back then, the list included four savings and loans and one bank, Ameritrust ...