In Denver, Titan Lenders Corp. , a firm specializing in mortgage services, is headed into 2015 strong after closing the book on one of its best years yet, according to an announcement.
Adding up its results for 2014, Titan reported an overall 71 percent increase in revenue over the year prior, thanks in part to a 15 percent increase in its services client base and significant growth in compliance support (up 278 percent year-on-year), MERS audit services (up 115 percent), and whole loan purchase review (up 54 percent).
"In 2014, Titan Lenders Corp. experienced a shift in the demand for its services from lender-focused back-office support to quality assurance-related activities for investors and servicers," Titan CEO Mary Kladde said. "Despite the poor performance of our retail general fulfillment division, Titan had an extremely successful year as a company, and with our renewed focus on servicers, warehouse lenders and investors, 2015 should prove to be equally as lucrative, if not more."
Another major contributor to Titan's growth in 2014 was its jumbo correspondent investment subsidiary, Titan Capital Solutions (TCS), which saw its number of approved sellers rise by 60 percent over 2013 and the number of loans purchased surge by 461 percent.
The total value of loans purchased by TCS increased 409 percent, while the total value of locks issued in 2014 increased 485 percent, the company added.
"2014 was a tremendous year of growth for Titan Capital Solutions," Titan EVP Ruth Lee said. "There is an established appetite in the market for jumbo origination, and as TCS enters 2015, it is with an eye towards expansion beyond jumbo to other products where supply may not meet demand. Titan's mission in 2015 is building our product base, expanding our quality control channels and offering an outlet for scratch and dent ."