Gershman loans $320 million in third quarter 2010

On track for $1 billion for the year

While the news around the country has not been good for mortgage companies and mortgage bankers in general, here in St. Louis one company is on track to close over $1 billion in single-family and multi-family loans this year. In the third calendar quarter of 2010, Clayton-based Gershman Mortgage made $220 million in single-family loans and $100 million in multi-family loans for a combined total of $320 million.

“Homeowners are taking advantage of historically low interest rates and many are refinancing their current loans,” noted Mark Unangst, Senior Vice President of Gershman Mortgage.