Alpine Mortgage Banking – A Year in Review

Home Blog Alpine Mortgage Banking – A Year in Review
Alpine Mortgage Banking – A Year in Review

Cass Wolfenberger, Senior Vice President, Mortgage Banking

At Alpine Bank, we live and breathe the ins and outs of the mortgage world every day.  The average consumer cannot say the same. Unless you are in the business of real estate, you can probably count on one hand the number of mortgages you’ve been up close and personal with. We understand the importance of educating and informing our customers, providing peace of mind for those making life-altering decisions. As we kick off 2016 in high gear, I thought I’d take a moment to provide a recap of the last year, and talk about what’s on the horizon. At a national level, 5,256,000 existing-homes and 499,000 new homes were sold in 2015. Although there was a drop in the number of new home sales, there was an increase of 6.5 percent in existing-home sales, indicating a continued recovery of the real estate market nationally. From a local perspective, the Rockford area Real Estate sales for 2015 increased 3.77% over 2014, while the three month rolling average sale price increased 4.0% to $107,462.00.  Inventory of homes listed for sale is at a 12 year low, hindering a more robust recovery in the number of home sales. Despite the low inventory, we saw the highest number of Rockford homes sold since 2007. Alpine Bank saw an increase of 58% over 2014’s total dollar amount of mortgages closed, as well as a 43.6% increase in the number of loans closed.  This increased our market share and maintained our position of being the area’s top mortgage lender. Additionally, we’ve expanded our capabilities to include the servicing of Federal Housing Administration (FHA), making Alpine Bank the only locally owned bank in Rockford to service their own FHA loans.  This has been dominated by large, national banks. Yet, this has been tremendously successful here at Alpine Bank. We helped 243 families buy a home using the Illinois Housing Development Authority (IHDA) grants for down payment and closing costs in 2015. Additionally, Alpine Bank was recognized as IHDA’s top lender in loan quality. Our team of Alpine Bank Mortgage Bankers continues to grow, setting us up for another successful year full of growth and new opportunity. The future is bright, let’s go together! Cass Wolfenberger, NMLS#133909, is Alpine Bank's Senior Vice President, Mortgage Banking and has more than 20 years of experience in providing mortgage expertise to home-buyers. 

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