OCEANSIDE, Calif. – Frontwave Credit Union is reporting it set a new record for mortgage lending in 2019, funding more than $75 million in first mortgages through Nov. 30, a year-over-year increase of more than 146%. Jeff Forsgren, director of real estate for Frontwave, credits the impressive growth to a combination of factors, including new products, new team members and improved efficiencies.
“In 2019, we began offering VA loans, rolled out a 3% down first-time home buyer program, and added a no closing cost product to our lineup,” said Forsgren.
These new products are well-suited to Frontwave’s membership base, which includes a large percentage of younger Military members and families, as well as veterans, the CU said.
Frontwave also expanded its real estate team in 2019, welcoming new Home Loan Consultants Autumn Roose, Farid Sanie and Dusty Carroll. Roose, Sanie and Carroll leveraged their more than three decades of combined home lending experience to boost awareness and adoption of Frontwave’s mortgage offerings throughout the communities the credit union serves. Branch associates further set the stage for success through increased cross-selling and lead generation, while Forsgren and his team drove efforts to reduce loan processing time by more than 50%.
In the coming year, Frontwave said it plans to continue expanding its loan offerings as well as its real estate team. “The future is bright,” said Forsgren. “With support from our Executive Management team as well as our 14 branches, we’ve transformed real estate lending at Frontwave and set the foundation for continued growth in 2020 and beyond.”