For the eighth year in a row, we compiled the industry’s most comprehensive list of the nation’s top mortgage
originators. The rankings include
not only the originators who are
closing the most dollar volume and
the most loans, but also the leaders
in niche areas, like Federal Housing
Administration, U.S. Department of
Veterans Affairs and U.S. Department
of Agriculture loans as well as home
equity lines of credit.
View Scotsman Guide’s
Top Originators 2016 at
By Steven Wyble
Prior to entering the mortgage industry, Thuan
Nguyen was a software programmer, but not a very
good one by his own admission.
“I was afraid when I got older, [it was] going to be
difficult for me to switch, to get another job,” he says.
So, he chose a field that seemed lucrative: mortgage
origination. He learned the business himself, online,
and got his broker’s license. “There’s no mentor,
no company. I’ve never worked for any company
before,” other than the company he started, Loan
Factory Inc., he says.
Nguyen shot up in Scotsman Guide’s annual Top
Originators rankings — most recently published this
past April and based on 2016 performance. In the Top
Refinance Volume category, Nguyen jumped from the
No. 10 spot in 2015, with $165.5 million in refi volume,
to No. 1 last year, with a refi volume of $337.1 million.
Nguyen’s 2016 performance also earned him the
No. 2 ranking on the Top Volume Gain list; the No. 6
position in the Top Dollar Volume category; and
the No. 8 ranking on the Most Loans Closed list.
More than anything, Nguyen says, he owes his refi
success to the field he left behind: software.
Most brokers can’t afford expensive software to help
run their businesses — Nguyen included. So rather
than purchase an expensive program, four years
ago, Nguyen enlisted the help of a friend to create
his own software.
“It’s my competitive advantage. … It helps me with
every single aspect of my business,” Nguyen says.
Steven Wyble is online content editor for Scotsman Guide Media.
Reach him at (800) 297-6061 or email@example.com.
How does software help Nguyen close refis? The answer is in the data he maintains on some 4,000 clients.
Nguyen’s software knows each borrower’s current
interest rate, and it automatically sends them an alert
whenever rates drop. They call Nguyen, and he closes
While last year was kind to Nguyen, he acknowledges the future doesn’t look as good for refis, because of rising interest rates. He says he’s changing
his strategy to go after more purchase volume, but
Nguyen also is expanding his reach beyond mortgage origination.
“My strategy is to train a lot of loan originators, and
I will give them all the tools and the knowledge —
and the software — to help them be as successful as
I am,” he says.
Nguyen said he’s teaching at least one class each
month. The classes are offered at Loan Factory’s
branches and are focused on helping new originators
get into the business. Additionally, Nguyen is expanding his business beyond its original corporate office in
San Jose, having opened new branches in southern
California, Minnesota and Washington state.
Nguyen knows technology has paved the way for his
success, and he hopes other originators will follow in
“Technology is the way of the future, and I would
really encourage all loan originators to improve,
to learn and to adopt technology in order to be
successful,” he says.
Thuan Nguyen, Loan Factory Inc.
No. 1 Top Refinance Volume (2016)