ARCS Mortgage Reports Rise in Loan Originations

ARCS Mortgage Inc., the Calabasas-based mortgage-banking affiliate of Bank of New York, said its loan originations increased 11% in the first half of 1993, to $1.5 billion.

The company also said its delinquency ratio dropped to 2.87% from 3.09% in the first six months of 1992.

The current industrywide delinquency ratio is 4.29%, ARCS said.

Howard J. Levine, ARCS president and chief executive, said low interest rates were an important factor in the company’s first-half performance.

But he added that ARCS’ increased minority-lending programs and expanding wholesale division are also contributing to “what is shaping up as another record year for our company.”