Approximately $200 million mortgage origination volume for 2024

Fintech mortgage lender on Tuesday Beeline Holdings (Nasdaq:Blne) The company reported that it was 29% ahead of the wider industry due to growth in origin volume in 2024, and recorded a report of just under $200 million.

According to the Mortgage Bankers Association (MBA), U.S. mortgage origination reached $1.79 trillion in 2024, indicating a recovery from the 2022 recession. Since the fourth quarter of 2022, Beeline has averaged nearly 20% quarterly revenue growth through the fourth quarter of 2024, the company said.

Founded in late 2020, Beeline closed its first year in 2021, earning $7.8 million in revenue. Despite rising interest rates and long-term mortgage slump that began in October 2021, the company rose 33.5% in 2024 compared to 2023.

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Going forward, the MBA’s baseline forecast project will be a 30-year mortgage rate, which will close 2025 at around 5.9%. Beeline considers this a positive background and believes it is well positioned to accelerate growth by 2027.

Beeline co-founder and CEO Nick Liuzza looked back at the company’s early challenges and noted that it entered the market during turbulence.

“Our timing wasn’t ideal, but we built our company to withstand volatility,” he said.

“We have acquired a favorable market to close 2021, but like in other parts of the industry, we have been hit by a rise rate and a shortage of single-family homes. The difference has not slowed down. We have continued to build software, expanded our lending capacity and diversified our lending capacity.

Price Action: Blne’s shares fell by $1.63 on its last check on Tuesday, down 1.21% in pre-market transactions.

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