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   ARTICLE   |   From Scotsman Guide Commercial Edition   |   April 2011

Special Report: Top Originators 2010

Who are the nation’s highest-producing residential mortgage originators?

Like the commercial mortgage industry, recovery on the residential side of the business has been slow going. Although record-low interest rates spurred refinances last year, there also were tighter underwriting standards, which made it harder to get loans closed. Plus, a slow purchase market, increased numbers of distressed homeowners and increasing foreclosures added even more uncertainty to residential mortgage originations in 2010.

With all that in mind, deals were still being done. Those deals couldn’t have been done without mortgage originators. And in Scotsman Guide’s residential edition this month, we present our second annual Top Originators list — a ranking of the nation’s highest-producing residential mortgage originators.

We’re offering you, our commercial edition readers, a glimpse of the rankings here — Scotsman Guide’s Top 40 residential mortgage originators by volume. If it piques your interest, check out the full rankings in our residential edition at sg-resdigital.com or online at scotsmanguide.com/Top2010.

About this year’s rankings

Almost 700 residential mortgage brokers, bankers, originators and loan officers entered Scotsman Guide’s Top Originators 2010. From those, we put together the most comprehensive, most intensely verified rankings in the industry.

In this month’s residential edition, we present the top 200 residential mortgage originators by volume, the top 150 by loans closed, the top 75 by Federal Housing Administration (FHA) volume and top entrants by purchase volume, refinance volume and volume gain from the previous year. And that’s not all: We present additional rankings online at scotsmanguide.com/Top2010 of the top entrants by U.S. Department of Veterans Affairs and U.S. Department of Agriculture volumes. 

Methodology and results

We accepted entries at scotsmanguide.com between Jan. 3 and Jan. 31 — no later.

To be eligible for consideration, residential mortgage originators must have had at least $30 million in home-loan volume or 100 closed home loans for the calendar year 2010. Only loans and volume they closed personally could be considered. That is, loans for which they shared commission with anyone else, such as a junior or associate originator or an assistant, could not apply to originators’ totals.

We then requested 2010 production reports from all top entrants, in addition to written verification of their volume from a certified public accountant, the chief financial officer at their company or a similar source. The written verification included a statement that no other originator received commission for these loans and that the numbers were accurate.

We checked this data against the original submissions and followed up where necessary. Only entrants whose data we could verify in this fashion made it to the final list.

In addition to total origination volume (and breakouts of the purchases and refis that made up the total) and the number of loans closed, we also pulled together information on originators’ closing ratios (that is, the percentage of loans closed versus the applications taken for each originator), the percentage of applications they took themselves and their number of  personal assistants. 

Inclusion of any individual on the Top Originators 2010 list does not constitute an endorsement of that individual by Scotsman Guide or Scotsman Guide Media.

Remember, you can see the complete list of the 200 Top Originators by volume — in addition to the top 150 by loans closed, top 75 by FHA volume and more — by checking out this month’s Scotsman Guide residential edition at sg-resdigital.com. You also can view the online rankings, which include additional categories, at scotsmanguide.com/Top2010.


 


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