CMG Mortgage, San Ramon, Calif., originated $275 million of home mortgages in August, a 44% increase from the prior month.
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Company CEO Chris George said based on current application volume, the nonbank lender could wind up funding at least $350 million by the time September ends.
“I don’t know how long this will last,” George told National Mortgage News, “but we are up significantly from other months.”
In 2010 CMG funded $2.1 billion in new loans, and could top that this year.
Meanwhile, George said CMG is being careful not to add new staff and instead is offering current employees over-time.
