Arvest Receives Multiple ‘Best of’ Honors in Annual CitiScapes Poll

Wednesday, December 12 at 08:00 AM
Category: Arvest News

CitiScapes Magazine touts its annual “Best of Northwest Arkansas” feature – released each December – as one of its most-anticipated traditions.

Likewise, we here at Arvest Bank are always eager to check out the results of the lifestyle publication’s ever-popular readers poll. This year was no different, and Arvest is proud to have received multiple honors from the readers of CitiScapes.

In addition to being selected as one of five financial institutions in the “Best Bank” category, Arvest also received the following honors:

  • Arvest Wealth Management, “Best Investment Firm”
  • Arvest Bank – Mortgage Division, “Best Mortgage Services”

Additionally, WACO Title Company, an Arvest affiliate, was chosen “Best Title/Abstract Company.”

Arvest sincerely thanks those who voted in the poll, and thanks CitiScapes for celebrating so many of the people, places and companies that make Northwest Arkansas one of the best places to live, work and play.

Tags: Arkansas, Arvest, Arvest Wealth Management, Mortgage, Northwest Arkansas
 

Arvest Mortgage Sets Purchase-Money Record

Thursday, November 01 at 02:00 PM
Category: Arvest News

Arvest Bank announced today its mortgage division has originated more than $1 billion in purchase-money mortgage loans in 2018, the third time it has done so in its history.

Arvest hit the $1 billion mark on Sept. 26, more than three months earlier than the previous two times it reached that milestone. Purchase-money loans are used to buy a home, as opposed to refinances and other types of loans.                       

“Home sales are driving the majority of our mortgage business this year, and reaching this $1 billion milestone has been even more remarkable given the rising interest rates and the housing inventory issues in some of our markets,” said Steven Plaisance, president and chief executive officer of Arvest’s mortgage division.

Arvest regularly originates more than $1 billion in mortgage loans – both purchase-money and refinances – having done so earlier in 2018 for the 16th consecutive year.

“Our team of mortgage professionals – from the start of your home loan process through servicing those loans long after you close it – are well-qualified to handle all the unique needs we see on a day-to-day basis,” Plaisance said. “Our mission statement of ‘People helping people find financial solutions for life’ is central to the mortgage services we offer and the team we build to execute those services.”

As of Sept. 26, Arvest had closed a total of 5,519 purchase-money loans with total loan value of $1,002,521,772. As of the same date in 2017, Arvest had closed 4,938 purchase-money loans with total loan value of $857,159,409. This year’s numbers represent an 11.7 percent increase in number of loans and a 16.9 percent increase in volume.

“We are privileged to work with so many Realtors®, brokers, builders and other housing professionals in all of our markets,” Plaisance said. “Being available to all of them and offering a variety of mortgage solutions for all of the communities we serve benefits everyone involved.”

Arvest is unique among most local lenders in that it services 99 percent of its mortgage loans, meaning that customers make their payments to Arvest and deal with Arvest for any needs after their loan closes.

Tags: Arkansas, Arvest, Kansas, Missouri, Mortgage, Oklahoma
 

Arvest Bank Hits $1 Billion Mortgage Mark for 16th Straight Year

Wednesday, July 25 at 08:00 AM
Category: Arvest News

Arvest Bank announced today that its mortgage division has originated more than $1 billion in mortgage loans for the 16th year in a row. That includes both purchase-money and refinance loans. This is the earliest the bank has reached the $1 billion mark since 2013, indicating a strong real estate market in the communities the bank serves.

“We continue to be honored and humbled that so many customers choose Arvest for their mortgage needs, whether that’s purchasing or refinancing a home,” said Steven Plaisance, president and chief executive officer of Arvest’s mortgage division. “It’s also worth noting that the majority of loans we are issuing continue to be purchase-money loans, a sign that our markets are healthy and that rates are still very attractive. Our team of mortgage bankers has been highly energized by the solid housing activity, and finds no better satisfaction than helping our customers throughout the entire home loan process.”

Arvest reached the $1 billion mark almost a month sooner than it did last year. As of June 29, Arvest had closed a total of 5,438 loans with a total loan value of $1,006,911,116. In 2017, the bank reached the $1 billion mark on July 24.

“The housing market has stayed robust, with competitive lending rates and strong home sales in many areas,” said Plaisance. “I think these results reflect strong consumer confidence as well.”

This is the fifth consecutive year in which purchase-money loans account for more of Arvest’s total mortgage loan volume than refinances. Through June 29, purchase-money loans accounted for 66 percent of the company’s total loan volume. That’s up from 64 percent in 2017.

Also through June 29, Arvest made 3,621 purchase-money loans with a volume of $667,247,854. That’s up from 3,183 loans and $553,997,133 in volume compared to year-to-date totals on June 29, 2017.

Arvest’s overall 2018 volume of $1,006,911,116 – on 5,438 loans as of June 29 – is up from $870,514,377 on 4,964 loans as of the same date in 2017. That’s a 15.7 percent increase.

The average loan size also increased, from $175,365 in 2017 to $185,162 in 2018, reflecting improving values in the real estate market.

Arvest is unique among most local lenders in that it services 99 percent of its mortgage loans, meaning that customers make their payments to Arvest and work directly with Arvest for any needs after their loan closes.

Tags: Arvest, Mortgage
 

Arvest Bank Surpasses $1B Mortgage Mark for 15th Consecutive Year

Tuesday, August 01 at 10:00 AM
Category: Arvest News

Arvest Bank announced today that its mortgage division has originated more than $1 billion in mortgage loans for the 15th year in a row. That includes both purchase-money and refinance loans. This is the earliest the bank has reached the $1 billion mark since 2013, indicating a strong real estate market in the communities the bank serves.

“We are honored that our customers choose Arvest for their mortgage business, both when purchasing a home and in situations when our low rates provide them the opportunity to refinance and improve their financial position,” said Steven Plaisance, president and chief executive officer of Arvest’s mortgage division. “The majority of loans we are issuing are purchase-money loans, which is a healthy sign for our markets, and rates are still very good.”

Arvest reached the $1 billion mark almost a month sooner than it did last year. As of July 24, Arvest had closed a total of 5,696 loans with a total loan value of $1,004,913,837. In 2016, the bank reached the $1 billion mark on Aug. 19.

“The housing market is very robust, with record home sales in some areas and certainly competitive lending rates,” said Plaisance. “Consumer confidence has been strong and that’s certainly reflected in the mortgage industry.”

This is the fourth consecutive year in which purchase-money loans account for more of Arvest’s total mortgage loan volume than refinances. Through July 24, purchase-money loans accounted for 64 percent of the company’s total loan volume. That’s up from 58 percent in 2016. 

“The continued year-over-year increase in purchase-money activity in our markets is yet another strong indicator of the health of those local economies,” Plaisance said.

Through July 24 of this year, Arvest made 3,687 purchase-money loans with a volume of $645,467,279. That’s up from 3,390 loans and $555,367,905 in volume compared to year-to-date totals on July 24, 2016.

Arvest’s overall volume of $1,004,913,837 – on 5,696 loans as of July 24, 2017 – is up from $860,630,640 on 5,360 loans as of July 24, 2016. That’s a 16.8 percent increase compared to the same time last year.

The average loan size at Arvest as of July 24 for this year also increased, compared to the same period last year, from $160,565 to $176,424, reflecting improving values in the real estate market.

Arvest is unique among most local lenders in that it services 99 percent of its mortgage loans, meaning that customers make their payments to Arvest and work directly with Arvest for any needs after their loan closes.

Tags: Arkansas, Kansas, Lending and Financing, Missouri, Mortgage, Oklahoma, Press Release
 

6 Financial Tips for Service Members and Their Families

Monday, June 26 at 09:15 AM
Category: Personal Finance
Finances are often identified by service members and their families as one of their most significant stressors – even more than deployments and personal relationships. Financial concerns at home make it extremely difficult for service members to focus on the mission at hand. Planning ahead as much as possible is key for the millions of military families who face unique financial challenges like deployments and relocations.

These financial tips can help lessen the financial burden on military families:
  • Contribute automatically to a Thrift Savings Plan. Military members have access to the Federal Thrift Savings Program, which offers the lowest-cost retirement savings plan available. Have automatic contributions withdrawn from your paycheck. 
  • Plan for deployment. Before deployment, have a family conversation about managing the household budget. Military personnel also receive additional funds while deployed. Decide on the best use for that extra cash, whether it is paying off debt or increasing Thrift Savings Plan contributions. 
  • Meet with your banker before active duty. The Servicemembers Civil Relief Act offers all military personnel entering active duty a variety of financial protections. The SCRA covers issues ranging from interest rate reductions to limits on debt accrual. Ask your banker about the key provisions of this law and how they can help you.  
  • Set up automatic bill pay. Whether you’re stationed stateside or overseas, automatic bill pay will give you and your family one less thing to worry about each month. It can be particularly helpful during deployments in regions where internet access is unreliable and mobile banking isn’t an option.
  • Consider housing options. With mortgage rates at notably low levels, homeownership may seem like a no-brainer. However, service members should consider their options. Frequent relocations and deployments can make owning a home challenging and expensive. Renting may be a smart option for short-term assignments. Decide what’s best for your family and your finances. 
  • Consult a financial advisor. Schedule a visit at a Personal Financial Management Program (PFMP) office, located in your military and family support centers. They offer free one-on-one counseling, as well as other financial education resources. 
Service members juggle a lot of stresses, and we hope to reduce the financial stresses with these tips.
 
Information courtesy of American Bankers Association. 

Tags: Financial Education, Home Loans, Mortgage, Retirement, Savings

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