Merix Financial, one of the larger non-bank mortgage lenders, has been putting up serious numbers.
Its year-to-date mortgage volumes have jumped 37.1% versus last year.
The company has been a rate leader on numerous occassions the past few months, which is probably part of the reason for its success. In addition, Merix and its affiliate companies are doing major volume in the private label and wholesale lending space.
Merix’s volume gains haven’t been at the expense of productivity, however. In fact, the company’s key measure of efficiency (its application-to-funding ratio) improved 22.2% since January 1.
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Sidebar: Merix’s current market share is estimated at 3%, according to a source at the company.
Last modified: April 26, 2017
Although I don’t have much experience using Merix I am finding they have excellent turn around times.
I submitted a deal last Sunday night, received the commitment on Monday and documents had been check for full approval on Tuesday.
I don’t use them much either but had a similar good experience last week. Hopefully Merix keeps staffing enough underwriters and fulfillment people to keep these fast turnaround times.
Merix financial is a great Mortgage company. I have purchased a house five years ago with 0% down. My five year term will be done in few months. I have managed to re-pay my downpayment and now I am a proud owner of my first home. Although my rate being extremely high during my first 5 years-6.6% I will always look back and thank Merix Financial for giving me the opportunity to purchase. When they renew my Mortgage in few months I will certainly decide on their rates. I will probably take their lowest rate available because I feel I have served my five year term and now its time for me to decide which rate I will choose. Thank you Merix Financial for making me a homeowner.