<< continued from Page 37
For most of 2016, uncertainty ruled. From the anticipation of an interest rate hike to the dramatic lead-up to the presidential election, it was
difficult sometimes to project how the housing market and, in turn, the
mortgage-origination industry would fare for the overall year.
The year closed on a positive note, however. With an estimated $1.9 trillion
in residential originations in 2016, it was another banner year for originations.
Volumes of our top originators are evidence of higher home prices and the
continued flow of purchase and refinance business. Nearly 82 percent of the
500 originators who ranked on the Top Dollar Volume list recorded a higher
volume in 2016 compared to 2015.
Daniel Horanyi of Caliber Home Loans, who seized the top spot on the Top
Volume Gain list, more than doubled his 2015 production, to reach $391 million
in total volume and 874 closed loans in 2016.
Volumes and loans
Higher volumes and closed-loan numbers mark the 2016 rankings, albeit
with some familiar faces on the Top Dollar Volume and Most Loans Closed
lists. Paul Volpe of Nova Home Loans closed a whopping 1,440 loans in 2016,
up from 1,051 in 2015. This 37 percent increase helped Volpe climb from third
place on the 2015 Most Loans Closed list to the top spot in the 2016 rankings,
where the top eight originators closed more than 1,000 loans each.
Mark Cohen of Cohen Financial Group remained on top of our Top Dollar
Volume list for the fifth consecutive year. Cohen closed 638 loans at a total
dollar volume of nearly $632 million, slightly higher than his $602 million volume in 2015. Purchase originations at $393 million made up 62 percent of
Cohen’s business, which earned him the top spot on the Top Purchase Volume list.
Overall, the top 500 originators ranked on the 2016 Top Dollar Volume list
closed 169,983 loans at a total volume of $59.8 billion, compared to 141,615
loans and $50.8 billion closed by their 2015 counterpart group.
The chart accompanying this story, “Top Originators Loan Production,”
reflects the production of the top 200 originators only from the Top Dollar
Volume rankings, because from 2009 to 2011 Scotsman Guide ranked only
200 originators by dollar volume.
The increase in loan volumes seen in the overall rankings in 2016 also is reflected in our niche lists. These are the rankings of originators based on dollar
volumes of loans backed by the Federal Housing Administration (FHA), the
U.S. Department of Veterans Affairs (VA) and the U.S. Department of Agriculture (USDA). The 75 originators on the Top FHA Volume list closed a total
of $3.3 billion in loans, compared to $2.8 billion closed by their counterpart
group on the 2015 list.
The group of 75 originators who ranked on the 2016 Top VA Volume list
closed $4.8 billion in loans, compared to $3.9 billion closed by their 2015
counterpart group. Similarly, the 25 originators on the 2016 Top USDA
Volume list closed a total of $219.5 million in mortgages, compared to
$187.2 million closed by their 2015 counter group.
n n n
With another good year for originations in the books, our Top Originators
2016 rankings recognize and celebrate those who made it to the top in an
ever-changing industry. It takes work and resilience to stand out and outperform the competition. So pat yourself on the back, whether you made it to
Scotsman Guide’s Top Originators for the first time or you’re celebrating one
more year of recognition. Congratulations. n