Scotsman Guide > Rankings > Top Originators 2013 > Brian Scott Cohen #2 Top Dollar Vo

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Top Originators 2013: #2 Top Dollar Volume

 

Brian Scott Cohen, Wells Fargo Home Mortgage
#2 Top Dollar Volume
Purchase-Volume Rank: #1
Closed-Loans Rank: #11

 

Brian Scott Cohen doesn’t like to limit the type or size of loan that he pursues. A retail sales supervisor for Wells Fargo Home Mortgage in Brooklyn, N.Y., Cohen attributes much of his recent success to carefully watching the makeup of his local market.

“I always try to keep an eye on both purchases and refinances and focus on all clients,” he says.

Cohen closed nearly $337 million in total volume this past year, an increase of 3.3 percent from his origination volume in 2012. Although Cohen’s 2013 production was a mix of purchases and refinances, his purchase volume — nearly $194 million — outpaced his refis by more than $50 million, a result of the “dominant purchase market” that emerged in the second half of this past year, Cohen says.

That didn’t mean that closing business this past year was a breeze, however. Like many other regions of the country, New York’s housing market was tempered somewhat by a lack of supply. “One of the biggest challenges was the low inventory,” Cohen says.

Even so, Cohen persevered. He says that the housing markets in Manhattan, Brooklyn and Long Island City were particularly strong for purchases, helping him make his third straight appearance in the top 10 of Scotsman Guide’s dollar volume list.

Although Cohen specializes in the New York market, he makes a point of closing a wide variety of loan sizes. This past year, his average deal was $466,000, comparatively small in light of the high-cost nature of New York real estate. “I do a range of financings,” Cohen says, “from very small loans to very large loans, anywhere between $30,000 and $20 million.”

Looking forward, Cohen is optimistic about the remainder of 2014. With interest rates likely to continue their ascent, he aims to expand his network and business plan. “It’s a new year,” Cohen says. “I’m doing a lot of planning and continuing to try and grow and meet new people. We expect a good year, but we’ve got a long road ahead of us.”

— Raymond Fleischmann  


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