Scotsman Guide - April 2010 Residential Edition

Top Dollar Volume

1 Daniel Milstein 2 Thomas Lavallee 3 John Vlogianitis 4 Shimmy Braun 5 Paul Volpe 6 Joseph Smith 7 Kevin Lyons 8 Michael Daversa 9 Thomas Digan 10 Gerald McCarthy 11 Al Hensling 12 Brad Cohen 13 Alison Freed 14 Tim Roach 15 Yinan Nancy Sun 16 Deborah O’Rourke 17 David Jaffe 18 David Gibbs 19 Joe Caltabiano 20 Michael Bischof 21 Mehdi Pirzadeh 22 Amanda Sessa 23 Mark Klein 24 John Farrell 25 Joe Phalen 26 Jon Levin 27 Mike Meena 28 Jim Bane 29 John Willis 30 Rod Flowers 31 Sherry Zickert 32 Norman Calvo 33 Kathy Shaw 34 Brian Blonder 35 Klaus Jensen 36 Tammy Colangelo 37 S. John Murray 38 Christopher Cox 39 Don Zender 40 Craig Miller 41 Eric Almquist 42 Dean Vlamis 43 John R. Kalin 44 David Pressel 45 Bethany Hegerhorst 46 Diane Clark 47 Christopher Hutchens 48 Jim Rademann 49 David Woldman 50 Shawn Huss 51 Morgan Fine 52 Michael Kent 53 Shannon Fortner 54 Lawrence Montani 55 Rosella Campion 56 Jerry Sundt 57 Rick Richter 58 James Pope 59 Joseph Siwinski 60 Jo Ann Theriault-Fazio 61 Mary Glavin 62 Michael Shane 63 Angela Deaton 64 Jeffrey Slater 65 Craig Strent 66 Jason F. Griesser 67 Christopher Hussain 68 Kelly Novotny 69 John Rodgers 70 Mark Chaffee 71 Michael Guthneck 72 Tina Vo 73 Dan Crum 74 Dan Stevens 75 Bridget K. Thomsen Name #

Gold Star Mortgage Financial Group MI Mortgage Bancorp Services IL Wells Fargo Home Mortgage NY Guaranteed Rate Inc. IL NOVA Home Loans AZ Bank of America Home Loans MA Anchor Funding Inc. CA Atlantic Residential Mortgage CT Mortgage Master Inc. MA Mortgage Master Inc. MA United American Mortgage Corp. CA Embrace Home Loans Inc. MD Mortgage Master Inc. MA Trident Mortgage Co. PA Austin First Mortgage TX Mortgage Master Inc. MA On Q Financial Inc. CA Mortgage Master Inc. MA Guaranteed Rate Inc. IL Biltmore Financial Bancorp Inc. IL Embrace Home Loans Inc. MD WR Starkey Mortgage CO Pacific Coast Lending CA Bank of America Home Loans CA Wintrust Mortgage Corp. IL Wells Fargo Home Mortgage CA Augusta Financial Inc. CA WR Starkey Mortgage TX Mortgage Master Inc. MA Sun Trust Mortgage Inc. MD U.S. Bank Home Mortgage WI Universal Mortgage Inc. N Y First Place Bank OH JBL Mortgage Network MD Mortgage Master Inc. MA Wells Fargo Home Mortgage CA Mortgage Financial Inc. MA Acacia Federal Savings Bank DC Evergreen Home Loans WA Firs Trust Mortgage Inc. MO First National Bank of Omaha NE Perl Mortgage Inc. IL Mortgage Master Inc. MI First Choice Bank NJ Financial Center Mortgage OR PrimeLending, a PlainsCapital Company TX Alpha Mortgage Corp. NC R&R Mortgage Inc. CA Sun Trust Mortgage Inc. NC First Place Bank OH Wells Fargo Home Mortgage CA Sovereign Bank PA WR Starkey Mortgage AL First Interstate Financial Corp. NJ Mortgage Master Inc. MA VIP Mortgage AZ Gold Star Mortgage Financial Group MI Wintrust Mortgage Corp. WI MBLO Funding Inc. IL Guaranteed Rate Inc. IL Wintrust Mortgage Corp. IL Sammamish Mortgage WA PrimeLending, a PlainsCapital Company TX BancGROUP Mortgage Corp. IL Apex Home Loans Inc. MD Trident Mortgage Co. PA WeFit2U CA Union Bank & Trust Co. NE Prime Mortgage Lending NC Mortgage Financial Inc. MA Equity Source Home Loans LLC NJ Wells Fargo Home Mortgage CA Wintrust Mortgage Corp. IL Wells Fargo Bank CA Mortgage Master Inc. MA Company State

$374,150,340 $297,278,690 $245,799,454 $209,231,749 $208,328,487 $206,202,172 $201,701,944 $196,650,888 $192,164,604 $179,940,503 $179,317,000 $175,647,220 $161,487,950 $157,241,997 $153,672,070 $152,260,052 $143,019,795 $139,971,044 $138,343,821 $131,503,458 $130,195,932 $129,962,650 $129,266,200 $128,785,017 $128,600,267 $123,312,000 $120,763,405 $118,453,967 $114,364,762 $111,788,090 $111,576,800 $110,221,435 $110,146,088 $109,673,231 $107,768,318 $107,109,824 $106,628,984 $106,466,396 $106,155,321 $104,044,140 $103,192,970 $103,005,750 $102,951,133 $102,950,673 $102,820,065 $102,553,800 $102,138,304 $101,916,000 $99,635,000 $99,072,098 $98,059,985 $96,600,043 $96,464,622 $96,285,201

$96,177,317

$96,012,406

$94,830,400

$94,618,612

$94,343,630

$92,626,652

$92,439,000

$92,110,544

$91,534,234

$91,469,873

$91,036,208

$90,728,817

$90,571,527

$90,070,008

$90,010,825

$89,370,395

$89,034,828

$88,952,170

$88,104,664

$87,996,000

64% / 36% 1,049 90%
30% / 70% 1,182 65%
33% / 67% 621 75%
23% / 77% 690 95%
36% / 64% 930 90%
25% / 75% 626 78%
9% / 91% 672 90%
53% / 47% 362 92%
14% / 86% 587 94%
8% / 92% 580 99%
56% / 44% 447 88%
16% / 84% 462 97%
15% / 85% 482 82%
44% / 56% 496 95%
30% / 70% 720 85%
14% / 86% 508 94%
24% / 76% 390 90%
14% / 86% 463 92%
29% / 71% 442 99%
20% / 80% 391 89%
11% / 89% 310 96%
37% / 63% 492 90%
30% / 70% 251 93%
72% / 28% 343 87%
31% / 69% 513 98%
40% / 60% 275 NA
66% / 34% 390 99%
46% / 54% 638 95%
18% / 82% 380 91%
24% / 76% 560 90%
25% / 75% 793 99%
51% / 49% 282 100%
23% / 77% 450 85%
10% / 90% 333 98%
14% / 86% 311 93%
15% / 85% 358 NA
42% / 58% 337 89%
58% / 42% 293 98%
63% / 37% 421 98%
13% / 87% 587 35%
29% / 71% 528 75%
15% / 85% 344 95%
12% / 88% 323 90%
27% / 73% 330 89%
1% / 99% 355 83%
62% / 38% 389 95%
56% / 44% 469 60%
48% / 52% 268 92%
59% / 41% 143 87%
32% / 68% 515 90%
21% / 79% 240 NA
57% / 43% 366 90%
86% / 14% 538 76%
35% / 65% 332 85%
54% / 46% 325 80%
53% / 47% 466 70%
34% / 66% 424 80%
30% / 70% 350 85%
4% / 96% 414 86%
15% / 85% 350 100%
27% / 73% 369 99%
22% / 78% 327 60%
64% / 36% 342 81%
29% / 71% 418 75%
16% / 84% 264 97%
62% / 38% 397 95%
71% / 29% 264 98%
22% / 78% 479 97%
40% / 60% 427 20%
40% / 60% 378 96%
0% / 100% 372 85%
19% / 81% 244 100%
23% / 77% 338 93%
25% / 75% 212 75%
17% / 83% 272 97%
Purchases
Vs. Refis
Closed
Loans
Closing
Ratio

$278,620,000 $171,630,242 $164,000,000 $124,000,000 $89,376,892 $109,000,000 $119,635,000 $184,715,340 $127,000,000 $94,000,000 $119,967,000 $83,700,000 $74,000,000 $115,171,708 $117,000,000 $71,000,000 $118,866,000 $70,500,000 $112,000,000 $94,615,645 $78,000,000 $69,169,420 $100,771,320 $70,777,394 $102,620,279 $73,415,000

$204,000,000 $67,514,301 $61,800,000 $78,408,240 $41,839,000 $83,000,000 $64,251,031 $108,000,000 $72,030,000 $84,163,000 $61,540,000 $58,000,000 $86,120,000 $68,000,000 $55,900,000 $69,793,101 $61,528,000 $45,000,000 $6,570,682 $79,106,421 $52,310,251 $110,000,000 $96,150,000 $64,210,048 $56,782,000 $54,000,000 $24,949,516 $60,999,410 $58,973,000 $86,222,600 $89,090,000 $140,000,000 $41,199,875 $79,272,615 $61,406,121 $65,999,528 $87,328,027 $83,282,305 $56,380,375 $37,070,530 $42,862,329 $57,100,000 $82,990,000 $45,100,000 $38,000,000 $30,030,000 $61,500,000 $75,000,000 $49,359,000 2008 Volume

Both Broker Banker Both Both Banker Both Broker Both Both Both Banker Both Banker Broker Both Both Both Both Both Banker Banker Both Banker Both Banker Both Banker Both Banker Banker Broker Banker Broker Both Banker Both Banker Banker Banker Banker Both Both Banker Broker Banker Banker Broker Banker Banker Banker Banker Banker Banker Both Both Both Both Broker Banker Banker Broker Banker Both Broker Banker Broker Banker Both Both Broker Banker Banker Banker Both Broker/ Banker

100% 1.5

100% 3

100% 2

95% 2

100% 3

100% 2

97% 2

100% 0

5% 2

100% 1

100% 0

100% 2

90% 2.5

100% 0

65% 2

100% 0

75% 3

95% 1

100% 1

10% 2

0% 3

50% 2

100% 2

100% 4

50% 3

100% 0

95% 2

73% 1

80% 2

100% 0

90% 2

100% 0

100% 1

100% 2

25% 1

100% 4

100% 0

100% 2

95% 1

100% 0

90% 2

99% 1

80% 1

100% 1.5

100% 0

85% 1

100% 0

100% 2

100% 1

50% 2

70% 2

100% 0

96% 2

100% 2

100% 1

100% 0

100% 1

50% 1

100% 1

75% 1

100% 0

75% 1

100% 1

100% 2

40% 4

100% 2

40% 2

100% 2

75% 1

Closed-Loans Rank: #2 | Purchase-Volume Rank: #1 12009 Top Overall Volume

Daniel Milstein
Gold Star Mortgage Financial Group
Daniel Milstein ranks No. 1 on Scotsman Guide’s Top
Originators 2009 list by volume with $374 million. He
also closed 1,049 loans, averaging more than $350,000
for each. To achieve the top spot, Milstein maintained a
frenetic pace — but he didn’t get there overnight.
As president and CEO of Gold Star Mortgage in Ann
Arbor, Mich., Milstein has evolved his base from that
of a predominantly Michigan market — including
Big Three auto workers, foreign buyers and profes-
sional hockey players — to a multistate network of
customers in his home state, Arizona, Connecticut,
Florida and Texas.
Milstein can handle a $2.5 million mortgage, he says.
But he noted his typical loan is much smaller. In fact,
after subtracting “celebrity customers” — such as
professional athletes, team owners and company
CEOs — his average loan is $212,000, he says.
Although he has one full-time assistant and one part-
timer — plus a marketing and public-relations coordi-
nator — Milstein takes all of the initial applications.
“I discuss the rate and loan, get approval and submit
it to the lender and then hand the file to an assis-
tant,” he says.
All that translates into what Milstein estimates as an
80-hour work week.
“I’m usually the first one here and last to leave,” he
says. “I’ve always got two phones and a Blackberry
with me.” (DR)

Volume Rank: #9 | Closed-Loans Rank: #11 1High Volume, No Assistants

Thomas Digan
Mortgage Master Inc.
Thomas Digan proved you don’t always need per-
sonal assistants to be a top producer. An originator
with Mortgage Master Inc. in Walpole, Mass., Digan
achieved his 2009 volume of $192 million on 587
loans without the support on which many origina-
tors depend.
“I would rather be the one who follows up with cli-
ents,” Digan says. “I explain that I’ll be with them
from first contact to closing.”
Digan credits his processor with helping him com-
plete loan files and noted that he also benefits from
a company marketing coordinator who distributes
periodic postcards on his behalf. Otherwise, he’s in
control — “I take the application, discuss rates, re-
view loan programs, all of it,” he says.
Several factors enable Digan to work solo at this level,
he says. In addition to handling mostly refinances in
2009, his normal business is based fully on referrals
— eliminating the need to chase leads.
In addition, the majority of his loans are done via
phone contact, e-mails and overnight mail.
“I’ll give customers the option of meeting face-to-
face, but communicating over the phone is more
efficient, and [customers] are appreciative, as well,”
Digan says. “I’ll take the application and explain ev-
erything they need [to complete the transaction] in a
few minutes.” (DR)