Arvest Takes Top Prize at ADFA Governor’s Conference

Thursday, February 07 at 02:00 PM
Category: Arvest News

The Arkansas Development Finance Authority hosted the Governor’s Conference on Homeownership Feb. 4-5 in Little Rock, and Arvest Bank’s mortgage division was recognized during the awards portion of the two-day event. Arkansas Gov. Asa Hutchinson, far left, and Arkansas Development Finance Authority (ADFA) president Cheryl Schluterman, far right, stand with Arvest Bank associates as they accept the 2018 ADFA Lender of the Year Award in Little Rock earlier this week.

Arvest, which also sponsored the conference, won the 2018 ADFA Lender of the Year Award. The award came as a result of Arvest originating the most loans with the ADFA, using its down payment assistance program. 

The ADFA’s stated mission is to promote economic growth in the state of Arkansas by providing and supporting financing for affordable housing, agricultural business enterprises, industrial and economic development, capital improvement for state agencies and local governments, higher education funding and related programs, and by promoting better economic policy. 

“Arvest Bank respects and appreciates the vital role the ADFA plays in our state,” said Jim Cargill, president and CEO for Arvest in central, southwest and northeast Arkansas. “It’s a group that works really hard to raise the standard of living in Arkansas, and we are proud to work with them when opportunities arise. We are thrilled to be recognized as the 2018 ADFA Lender of the Year, and hope for even bigger and better things in 2019 and beyond.” 

The conference included numerous breakout sessions, comments by Arkansas Governor Asa Hutchinson, and a keynote address by Lawrence Yun, chief economist and senior vice president of research at the National Association of REALTORS®.

 

PHOTO: Arkansas Gov. Asa Hutchinson, far left, and Arkansas Development Finance Authority (ADFA) president Cheryl Schluterman, far right, stand with Arvest Bank associates as they accept the 2018 ADFA Lender of the Year Award in Little Rock earlier this week.

 

Tags: Arkansas, Mortgage
 

Arvest Bank Offers Special Assistance to Customers Affected by Shutdown

Friday, January 25 at 08:00 AM
Category: Arvest News

Arvest Bank has announced additional accommodations for our customers affected by the current government shutdown. Because we understand the uncertainty caused by an interruption in income, we’ve established a Special Assistance Customer Care hotline for our customers who need help managing their accounts during this time.

If you have concerns about your accounts related to the government shutdown, please call this dedicated line during normal business hours – 

Arvest Special Assistance Customer Care: (877) 483-2940.

A customer care associate will walk you through specific accommodations available to you.

  • ARVEST MORTGAGE CUSTOMERS: Arvest is suppressing credit reporting, waiving late fees and offering payment assistance including forbearance. In addition to calling (877) 483-2940, mortgage customers can visit the Arvest website to learn more about hardship assistance. Options will vary based on loan type and investor guidelines.
  • PERSONAL LOANS (AUTO, HOME EQUITY, DEBT CONSOLIDATION, ETC.): Arvest is offering payment deferrals for existing loans based on need. In addition, Arvest is waiving origination fees and offering an extension of the first payment due date for some new consumer loan types. Affected customers are encouraged to call (877) 483-2940 to discuss options.
  • CONSUMER AND BUSINESS CREDIT CARD CUSTOMERS: Arvest is offering payment deferrals. Affected customers are encouraged to call (877) 483-2940.
  • CHECKING ACCOUNT HOLDERS: Arvest is waiving account insufficient funds and overdraft fees, as well as monthly account fees, when applicable. To request these waivers or refunds, please call (877) 483-2940.
  • BUSINESS OR COMMERCIAL LOANS: Please contact your local Arvest banker for personalized assistance.

At Arvest we are committed to helping our customers through this challenging time. If you have questions about any of the above accommodations or your eligibility, please do not hesitate to call (877) 483-2940.

Tags: Arkansas, Budgeting, Business Banking, Community Support, Credit Cards, Credit History, Credit Score, Customer Question, Debt, Home Loans, Kansas, Lending and Financing, Missouri, Mortgage, Oklahoma, Overdraft Coverage
 

Arvest Receives Multiple ‘Best of’ Honors in Annual CitiScapes Poll

Wednesday, December 12 at 08:00 AM
Category: Arvest News

CitiScapes Magazine touts its annual “Best of Northwest Arkansas” feature – released each December – as one of its most-anticipated traditions.

Likewise, we here at Arvest Bank are always eager to check out the results of the lifestyle publication’s ever-popular readers poll. This year was no different, and Arvest is proud to have received multiple honors from the readers of CitiScapes.

In addition to being selected as one of five financial institutions in the “Best Bank” category, Arvest also received the following honors:

  • Arvest Wealth Management, “Best Investment Firm”
  • Arvest Bank – Mortgage Division, “Best Mortgage Services”

Additionally, WACO Title Company, an Arvest affiliate, was chosen “Best Title/Abstract Company.”

Arvest sincerely thanks those who voted in the poll, and thanks CitiScapes for celebrating so many of the people, places and companies that make Northwest Arkansas one of the best places to live, work and play.

Tags: Arkansas, Arvest, Arvest Wealth Management, Mortgage, Northwest Arkansas
 

Arvest Mortgage Sets Purchase-Money Record

Thursday, November 01 at 02:00 PM
Category: Arvest News

Arvest Bank announced today its mortgage division has originated more than $1 billion in purchase-money mortgage loans in 2018, the third time it has done so in its history.

Arvest hit the $1 billion mark on Sept. 26, more than three months earlier than the previous two times it reached that milestone. Purchase-money loans are used to buy a home, as opposed to refinances and other types of loans.                       

“Home sales are driving the majority of our mortgage business this year, and reaching this $1 billion milestone has been even more remarkable given the rising interest rates and the housing inventory issues in some of our markets,” said Steven Plaisance, president and chief executive officer of Arvest’s mortgage division.

Arvest regularly originates more than $1 billion in mortgage loans – both purchase-money and refinances – having done so earlier in 2018 for the 16th consecutive year.

“Our team of mortgage professionals – from the start of your home loan process through servicing those loans long after you close it – are well-qualified to handle all the unique needs we see on a day-to-day basis,” Plaisance said. “Our mission statement of ‘People helping people find financial solutions for life’ is central to the mortgage services we offer and the team we build to execute those services.”

As of Sept. 26, Arvest had closed a total of 5,519 purchase-money loans with total loan value of $1,002,521,772. As of the same date in 2017, Arvest had closed 4,938 purchase-money loans with total loan value of $857,159,409. This year’s numbers represent an 11.7 percent increase in number of loans and a 16.9 percent increase in volume.

“We are privileged to work with so many Realtors®, brokers, builders and other housing professionals in all of our markets,” Plaisance said. “Being available to all of them and offering a variety of mortgage solutions for all of the communities we serve benefits everyone involved.”

Arvest is unique among most local lenders in that it services 99 percent of its mortgage loans, meaning that customers make their payments to Arvest and deal with Arvest for any needs after their loan closes.

Tags: Arkansas, Arvest, Kansas, Missouri, Mortgage, Oklahoma
 

Arvest Bank Hits $1 Billion Mortgage Mark for 16th Straight Year

Wednesday, July 25 at 08:00 AM
Category: Arvest News

Arvest Bank announced today that its mortgage division has originated more than $1 billion in mortgage loans for the 16th year in a row. That includes both purchase-money and refinance loans. This is the earliest the bank has reached the $1 billion mark since 2013, indicating a strong real estate market in the communities the bank serves.

“We continue to be honored and humbled that so many customers choose Arvest for their mortgage needs, whether that’s purchasing or refinancing a home,” said Steven Plaisance, president and chief executive officer of Arvest’s mortgage division. “It’s also worth noting that the majority of loans we are issuing continue to be purchase-money loans, a sign that our markets are healthy and that rates are still very attractive. Our team of mortgage bankers has been highly energized by the solid housing activity, and finds no better satisfaction than helping our customers throughout the entire home loan process.”

Arvest reached the $1 billion mark almost a month sooner than it did last year. As of June 29, Arvest had closed a total of 5,438 loans with a total loan value of $1,006,911,116. In 2017, the bank reached the $1 billion mark on July 24.

“The housing market has stayed robust, with competitive lending rates and strong home sales in many areas,” said Plaisance. “I think these results reflect strong consumer confidence as well.”

This is the fifth consecutive year in which purchase-money loans account for more of Arvest’s total mortgage loan volume than refinances. Through June 29, purchase-money loans accounted for 66 percent of the company’s total loan volume. That’s up from 64 percent in 2017.

Also through June 29, Arvest made 3,621 purchase-money loans with a volume of $667,247,854. That’s up from 3,183 loans and $553,997,133 in volume compared to year-to-date totals on June 29, 2017.

Arvest’s overall 2018 volume of $1,006,911,116 – on 5,438 loans as of June 29 – is up from $870,514,377 on 4,964 loans as of the same date in 2017. That’s a 15.7 percent increase.

The average loan size also increased, from $175,365 in 2017 to $185,162 in 2018, reflecting improving values in the real estate market.

Arvest is unique among most local lenders in that it services 99 percent of its mortgage loans, meaning that customers make their payments to Arvest and work directly with Arvest for any needs after their loan closes.

Tags: Arvest, Mortgage

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