Downey Savings Hits July Mortgage Record
Newport Beach-based Downey Financial Corp.’s Downey Savings said it hit a monthly record of $947 million in home loan originations in July.
July’s total tops Downey’s prior top month in October when the thrift hit $869 million in home loans.
John Gatzke, executive vice president and chief lending officer for Downey, said new technology implemented last year helped the thrift capitalize on the hot housing market.
“The technological enhancements Downey implemented last year are paying dividends,” he said.
