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Refi activity declining sharply
Mortgage-refinance production
decreased by almost 40 percent in
2017, compared to 2016, according
to preliminary data released by
the Mortgage Bankers Association
(MBA) this past January. The MBA
estimates that total refi activity for
2017 will fall in the range of $600 billion, compared to almost $1 trillion
in 2016.
Fannie Mae and Freddie Mac also
reported dramatic declines in refinance activity in 2017. Year to date
through this past November, a total
of slightly more than 1.5 million
refinanced loans were purchased
by the government-sponsored
enterprises (GSEs). That represented
a 26. 7 percent decrease from the
nearly 2.1 million refinanced loans
acquired by the GSEs during the
same period in 2016.
Looking forward, the MBA projects
that refinance dollar-volume production will decrease 29 percent in 2018,
compared to 2017, the result, in large
part, of anticipated increases in
mortgage interest rates. Refi production will total just $426 billion
this year, according to the forecast,
which would mark a 57 percent
decrease over two years. At this
level, refinance activity will account
for only 26. 4 percent of the total
mortgage market. ( WM)
1 Ramon Von Walker Mount Diablo Lending CA $243, 191,511 $243, 191,511 100% 610 610 Broker 3 6
2 Anthony Musante PNC Bank CA $195,968,257 $282,768,380 69% 204 307 Banker 3 27
3 Mark Cohen Cohen Financial Group CA $191,260,660 $579,577,758 33% 180 541 Broker 8 31
4 Ben Anderson LendUS LLC, dba RPM Mortgage CA $188,909,300 $212,334,431 89% 291 337 Both 7 14
5 Julie Long Commonwealth Mortgage LLC MA $151, 132,098 $237,997,029 64% 562 870 Banker 1 6
6 Jason Wiley Wells Fargo Home Mortgage CA $125,838,222 $186, 113,835 68% 133 190 Banker 0 6
7 Ryan Sawyer Low VA Rates U T $116,668, 176 $116,668, 176 100% 574 574 Both 13 5
8 Reynaldo Reyes Sharpline Brokers CA $114,079,548 $121,571,434 94% 383 404 Broker 5 3
9 Brian Minkow HomeBridge Financial Services CA $111,418,265 $325,301,274 34% 260 760 Banker 4 20
10 Mike Roberts City Creek Mortgage Corp. U T $109,888, 133 $238,882,357 46% 445 892 Both 6 21
11 Ben Cohen GuaranteedRate IL $109, 136,892 $271, 143,617 40% 213 569 Both 2 12
12 Cody Metty Quicken Loans AZ $105,669,292 $105,669,292 100% 478 478 Banker 0 12
13 David Herrera Provident Funding Associates LP CA $105,081,600 $154,049,300 68% 435 588 Broker 0 7
14 Chris Furie InsigniaMortgageInc. CA $104,318,250 $210,302, 117 50% 49 110 Broker 1 28
15 Damon Germanides InsigniaMortgageInc. CA $103,631,000 $204, 129, 150 51% 43 102 Broker 1 14
16 Erik Elsasser ConsumerDirect Mortgage, a division of FirstBank NC $101,372,004 $164,334,654 62% 399 627 Banker 0 9
17 Thuan Nguyen LoanFactoryInc. CA $91,983,800 $124, 145,678 74% 255 345 Broker 0 10
18 Michael Dunn Guild Mortgage Co. CA $90,681,554 $91,674,276 99% 361 366 Banker 1 9
19 Christopher Tanevski CashCallMortgage CA $84,283,603 $87, 191,603 97% 257 265 Banker 0 10
20 Travis Dick Network Capital Funding Corp. CA $82,821,721 $84, 137, 121 98% 275 278 Banker 0 4
21 Rodney Anderson SupremeLending TX $82,766,580 $135, 185,605 61% 344 529 Banker 3 33
22 Mayra Cisneros Provident Funding Associates LP CA $79,607,800 $91,073,950 87% 334 369 Broker 0 2
23 Daniel Horanyi Caliber Home Loans CA $78,670,450 $275,769,874 29% 175 574 Banker 20 8
24 Brian Scott Cohen Wells Fargo Home Mortgage NY $77,520,729 $532,968,694 15% 126 666 Banker 4 14
25 Joseph Flannery The Money Source Inc. CA $75,741,593 $75,741,593 100% 333 333 Banker 0 5
26 Justin Purpero
U.S.Bank CA $73,950,839 $119,248,271 62% 101 176 Banker 3 18
27 Shant Banosian Guaranteed Rate MA $73,851,906 $457,938,692 16% 211 1, 129 Both 3 9
28 Josh Bhatia CitibankNA TX $73,657, 132 $79,744,022 92% 433 447 Banker 0 12
29 Wan Qing Liu Provident Funding Associates LP CA $73,527,800 $88,667,700 83% 305 352 Broker 0 2
30 Robert Painter New American Funding CA $73,007,010 $143,529,371 51% 70 137 Banker 1 23
31 Douglas Shaffer QC Lending LLC NC $72,416,429 $73,215,014 99% 241 244 Broker 1 20
32 James Cokinos Paramount Equity Mortgage, dba Loanpal CA $70,780,978 $78, 161,580 91% 295 321 Banker 3 6
33 Keith McKay Prime Choice Funding Inc. CA $69,027,855 $73,658,254 94% 208 219 Broker 0 11
34 Rob Peterson Low VA Rates UT $67,466,787 $67,466,787 100% 267 267 Both 1 3
35 Douglas Dvorak Provident Funding Associates LP IL $67, 145,050 $95, 197,650 71% 302 412 Broker 0 4
36 Kara Whitman Wyndham Capital Mortgage Inc. NC $67, 138,516 $86,027, 199 78% 246 313 Banker 1 5
37 Stanislav Dvornitsyn Provident Funding Associates LP IL $66,387,400 $92,698,500 72% 300 408 Broker 0 7
38 Randolph Masters Masters Team Mortgage CA $66,044,385 $116,478,350 57% 192 348 Both 2 28
39 Gary McPeak Prime Choice Funding Inc. CA $64,844,404 $64,844,404 100% 211 211 Broker 0 10
40 Mike Meena Augusta Financial CA $64,239,849 $198, 179,620 32% 170 492 Both 5 23
41 Brandon Moss Fairway Independent Mortgage Corp. CA $63,653, 145 $90,263,237 71% 108 162 Banker 1 15
42 Ryan Shane Sammamish Mortgage WA $63,498,664 $136,640,497 46% 204 405 Both 4 8
43 Chris Kostoff Mortgage Direct Corp. CA $63,418,307 $86, 178,281 74% 126 177 Broker 1 23
44 Casey Lamm Watermark Capital Inc. CA $63,077,584 $98,990,695 64% 139 220 Banker 0 6
45 Michael Deery Citywide Financial Corp. CA $62,585, 120 $112,808,450 55% 127 257 Broker 2 19
46 Risha Kilaru Guaranteed Rate CA $58,717,465 $268,046,607 22% 106 475 Both 4 12
47 Houtan Hormozian CresticoFunding CA $58,239,955 $158,529,802 37% 116 315 Both 2 15
48 Jim Parrish Provident Funding Associates LP NC $57,642,050 $83,647,800 69% 243 332 Broker 0 3
49 Kevin Friedman CashCallMortgage CA $57,613,669 $60,770,472 95% 186 195 Banker 0 31
50 Jaren Ahlmann Low VA Rates U T $57,514, 173 $58,734,540 98% 250 255 Both 2 3
51 David Tran The Money Source Inc. CA $56,966,591 $56,966,591 100% 269 269 Banker 0 10
52 Michael Osorio Farmers and Merchants Bank CA $56,945,900 $80,310,654 71% 66 131 Banker 0 15
53 Zachariah Seither Prime Choice Funding Inc. CA $55,650,794 $55,772,044 99% 187 188 Broker 0 10
54 Brian Decker GuaranteedRate/loanDepot CA $54,293,473 $203,693,011 27% 149 581 Both 4 13
55 Eric Fielden Provident Funding Associates LP NC $53,620,800 $75, 128, 100 71% 229 310 Broker 0 3
56 Jarret Coleman UnitedBank CT $52,962,311 $156,410,974 34% 87 306 Banker 1 8
57 Ryan Marier Secure One Capital CA $52,885,454 $52,885,454 100% 149 149 Banker 2 10
58 Ed Currie Associated Bank IL $52,019, 167 $219,937,355 24% 72 297 Banker 2 23
59 Aron Rofer PCMA CA $51,378,650 $51,378,650 100% 96 96 Banker 0 5
60 Patricia McCall ConsumerDirect Mortgage, a division of FirstBank FL $51, 129,903 $77,950,368 66% 218 317 Banker 0 14
61 James Pate Secure One Capital CA $50,969,300 $50,969,300 100% 152 152 Banker 2 12
62 Jose Thomas Network Capital Funding Corp. FL $49,752, 103 $52, 103, 153 95% 202 210 Banker 0 2
63 Michael Durand ConsumerDirect Mortgage, a division of FirstBank NC $49,549,782 $75,768, 140 65% 206 306 Banker 0 25
64 Timothy Taylor HomeBridge Financial Services CA $49,531,089 $114,226,999 43% 86 205 Banker 2 23
65 Jesse Caveney American Pacific Mortgage CA $49,364,826 $61,594,690 80% 62 77 Banker 2 25
66 Jason Gosser Guild Mortgage Co. WA $49,023,992 $202,696,488 24% 158 708 Banker 0 24
67 Kurt Miller Provident Funding Associates LP PA $48,766,950 $65,825,750 74% 217 281 Broker 0 7
68 Terry Weiler Prime Choice Funding Inc. CA $48,385,266 $48,385,266 100% 163 163 Broker 0 11
69 Fred Hamud Guild Mortgage Co. CA $48,249,460 $60,854,534 79% 218 254 Banker 0 21
70 Waleed Delawari Delaware Pacific CA $47,861,513 $128, 175,750 37% 72 210 Both 2 14
71 Richard Elmendorf Caliber Home Loans VA $47,588,231 $150, 158,900 32% 121 370 Banker 6 26
72 Eric Rotner Commerce Home Mortgage CA $46,946,815 $113, 186,911 41% 80 189 Banker 1 16
73 Daniel McCoy MVBMortgage NC $46,848,446 $133, 166,596 35% 186 504 Banker 2 11
74 Mark Klein Skyline Home Loans CA $46,741,945 $81,933,942 57% 81 137 Both 3 25
75 Mike Pfefferman AmeriFirst Financial Inc. CA $46,330,400 $64,055,752 72% 90 125 Broker 1 21
Name Company State
Refinance
Volume
Total
Volume
Overall
Closed
Loans
Refi
Loans
Percent
Refi
Volume
Broker/
Yrs.
in Biz Staff
Top Refinance Volume
ScotsmanGuide.com/Top2017/Refi
Home-Refinance Originations
(Billions)
2017 2016 2018*
Source: Mortgage Brokers Association
$1, 200
$1,000
$800
$600
$400
$200
$0
*Projected
