Niche Production Volumes*
2013 2012 2011 2010 2014 2015 2016 2017
FHA volume VA volume USDA volume
Source: Scotsman Guide Top Originators 2017 *Based on the total production for the top 25 originators in each niche category.
Top Originators Loan Production*
2009 2010 2011 2012 2013 2014 2015 2017 2016
Total dollar volume Total loans closed
Source: Scotsman Guide Top Originators 2017 *Based on the total production of the top 200 originators by dollar volume.
<< continued from Page 37
It was a long time coming: Rising rates were inevitably going to hit the refi boom.
But because the hit was slower and more gradual than anticipated, many originators — and their companies — had plenty of time to tweak their marketing
strategies to target the thriving purchase market.
The Top Originators numbers over the years reflect this shift to the purchase
market, even as recently as from 2016 to 2017. In Top Originators 2016, the total
production of the 500 originators who ranked on the Top Dollar Volume list was
split right at 50 percent between purchase and refinance business. The production of the 500 originators in the 2017 Top Dollar Volume list is split 75 percent in
purchase volume and 25 percent in refi volume.
Lower refi shares meant lower volumes across the board in 2017 numbers.
Out of the Top Dollar Volume’s 500 originators, more than 310 originators
reported lower volumes in 2017 compared to 2016, including Mark Cohen of
Cohen Financial Group, who has ranked No. 1 in total dollar volume every year
since Top Originators 2012.
Cohen’s 2017 total volume was $579.6 million, an 8 percent drop from his
previous year’s production of $631.6 million, although it remains an impressive
accomplishment. Cohen’s 2017 production was split between purchases and refinances at 67 percent and 33 percent, respectively.
Volumes and loans
The number of loans closed in 2017 also dropped for the majority of our ranked
originators. On the Most Loans Closed list, 154 originators out of the 300 who
made the list closed fewer loans in 2017 compared to 2016.
Paul Volpe of NOVA Home Loans, who ranked No. 1 on the 2016 Most Loans
Closed list with a rankings-record 1,440 loans, dropped to No. 3 in 2017 with
1,019, but the two originators ahead of him closed fewer loans than his record —
and their own individual 2016 loan numbers. Shant Banosian of Guaranteed Rate
seized the No. 1 spot with 1, 129 closed loans and Max Leaman of New American
Funding ranked second with 1,029.
Overall, the top 500 originators ranked on the 2017 Top Dollar Volume list
closed 146, 155 loans and a total volume of $50 billion, compared 169,983 loans
at a total volume of $59.8 billion closed by their 2016 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 2014 Scotsman Guide ranked only
200 originators by dollar volume.
The niche lists of Top Originators 2017 somewhat mirrored the overall drop of
production volumes. 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 2017 Top FHA Volume list closed a total of $2.7 billion in
loans, compared to $3.3 billion closed by their counterpart group on the 2016 list.
Similarly, the 25 originators on the 2017 Top USDA Volume list closed a total
of $217 million in mortgages, compared to $219.5 million closed by their 2016
The originators on the VA list bucked the trend, however. The group of 75
originators who ranked on the 2017 Top VA Volume list closed $5 billion in loans,
slightly higher than the total volume of $4.8 billion closed by their 2016 counterpart group.
n n n
Congratulations to all the originators who made this year’s rankings. You have
weathered significant market changes and managed to stay at — or even rise to
— the top. There are already projections for higher originations this year, at least
in the purchase market, so keep up the good work of helping people achieve
their dream of homeownership. n