Arvest passes $2B mortgage mark in 2018

Fayetteville, Arkansas-based Arvest Bank originated more than $2 billion in loans last year through its mortgage division, the third year on record since launching in 2007.

Arvest’s mortgage loan volume in 2018 represented an 8.8 percent annual increase, and it was the first time since 2013 the bank eclipsed the $2 billion mark, according to a news release.

Locally, Arvest’s mortgage division originated $92.7 million of the $2 billion in loans in 2018, said spokeswoman Kristin Mock. That’s a 2.2 percent decline from its $94.8 million volume the previous year, according to past Springfield Business Journal reporting.

Purchase-money loans, which are used to buy a home as opposed to refinances and other types of loans, continued to account for the majority of volume in 2018.

Arvest reported a record $1.32 billion in purchase-money loans in 2018, compared with more than $684 million in refinance loans.