Scotsman Guide > Rankings > Top Originators 2010 > Thomas Lavallee #1 Top Refinance V

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Top Originators 2010: #1 Refinance Volume


Thomas Lavallee, Mortgage Bancorp Services
#1: 2010 Top Refinance Volume
Closed-Loans Rank: #1
Volume Rank: #2


Despite the slow purchase market and tighter underwriting standards in 2010, Thomas Lavallee still managed to keep busy. The president and co-owner of Mortgage Bancorp Services closed more than $330 million in total loan volume this past year, a $33 million increase from his 2009 closings and nearly double his 2008 total.

Like the previous year, most of his business came from refinancing activity, which Lavallee attributes to the slower purchase market. Low interest rates also were a key factor in his $293 million refinance business.

Lavallee credits a good referral network for helping his business continue to grow. In addition to increasing his total volume, his loans closed increased from 1,182 in 2009 to 1,399 this past year.

“[You have to] make sure you take care of past clients, and encourage them to refer others,” he says.

That dedication to customer service no doubt also contributed to Lavallee’s closing-ratio improvement, as well. In 2009, his ratio was 65 percent — this past year, it jumped to 95 percent.

“[My] closing ratio increased due to dramatically lower interest rates and clients being more enthusiastic to refinance,” he says.

— Jennifer E. Garrett


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