What's news at Topdot
At Mid-Year, Topdot Mortgage Reports Increasein Loan Activity
Company Expansion Anticipates Further Growth as Industry Consolidates
Jericho, Long Island, N.Y. (July 17, 2006) -- Topdot Mortgage, a national mortgage lender based in Jericho, N.Y., said today that its loan origination volume grew to $1.315 billion during the first six months of 2006, a seven percent increase over the same period in 2005. Numbers of loans closed grew by nine percent.
The Company said that it expects continued loan production growth for the remainder of the year as it gains licenses in additional states, further increases its direct origination and wholesale business staffing, and strategically concentrates its marketing efforts in several regions it has identified as most promising.
Topdot Vice President Adam Brown commented, “We’re acutely aware of the reports that the mortgage industry is being squeezed by rising interest rates. Some mortgage companies are closing their doors and others are retrenching. But while our rate of growth has slowed as we’ve become a more mature company, we are well positioned for further market-share and overall growth. Our client-centric business model – which emphasizes thorough needs analysis by highly qualified mortgage specialists, customized financing solutions, tangible benefit assurance, and repeat business stemming from borrower satisfaction – is proving to be a winner!”
Topdot offers a broad range of residential mortgage products directly to homeowners and new homebuyers. Types of loans include fixed-rate and adjustable rate mortgages (new purchases and refinancing) on primary residences, second/vacation-homes and investment properties. Topdot also provides home equity loans and lines of credit, debt consolidations, zero-down payment and 100-percent financing, jumbo loans, interest-only loans and other options to accommodate clients’ specific needs.
Topdot recently announced it had received licensing approval in its 39th state – Iowa – and expects to enter several more states this year. Last week, the Company said it was opening its 17th branch office, in Jericho, NY and also that it had leased additional office space at its Boca Raton office to enable it to double its staffing there.
