More than 2,000 women secured more than $25 million in origination volume or closed 75 loans or more in 2025, qualifying them to be recognized as Scotsman Guide’s Top Women Originators. This was a 12% increase from 2024, when 1,794 originators qualified.

The dollar volumes were larger, too. The top 10 finishers originated $2.8 billion with 3,351 closed loans in 2025, compared to $2.5 billion in volume in 2024.

Taking top honors this year was Sherry Wang, an originator for Citibank based in Pasadena, Calif. She closed 302 loans for a total volume of $368.3 million, narrowly edging out OriginPoint’s Risha Kilaru, who originated $363.6 million on 290 closings. In third place was Kelly Malatesta from Cadence Bank in The Woodlands, Texas, with $319 million on 370 closed loans.

Wang, who had placed seventh in 2024, told Scotsman Guide she was sincerely honored.

“This recognition reflects the commitment, diligence and collaborative efforts of all those who have worked alongside me,” Wang said. “It is not solely an individual distinction, but rather a testament to the collective dedication and support that contributed to this achievement.”

Citibank had four women in the top 10 (and 13 of the top 150), closing large volumes of refinances despite the overall average of the top 150 originators closing 73% purchases, 23% refinances and 4% second mortgages. OriginPoint had three originators in the top 10.

Vicky Wang of Citibank finished fourth, closing $270.3 million on 193 loans (88% of which were refinances). Bella Jiao, also from Citibank, finished fifth with $267.2 million and 183 closings (with another high refi ratio of 87%).

Jennifer Beeston from Rate in Florida was the top East Coast finisher, finishing sixth with $259.9 million on 643 closings — the third most closings overall. In seventh place was Fif Ghobadian of OriginPoint, with $244.9 million on 238 closings. OriginPoint also was represented in eighth place by Lysa Griffith in Kirkland, Wash., closing $243.6 million on 280 loans.

Tammy Saul of Federal Hill Mortgage in Baltimore placed ninth with $235.7 million on 695 closings (the second most closing overall). Rounding out the top 10 was Liping Yi of Citibank in Sunnyvale, Calif., with $234.6 million on 157 closings.

Companies with impressive representation among the top 150 were CrossCountry Mortgage with 19 top originators; Rate and U.S. Bank with 12 each; and Movement Mortgage with eight.

Some other notable achievements stood out among the rankings. Tower Federal Credit Union’s Elizabeth Morse, a 25-year industry veteran, closed a remarkable 811 loans — all of which were second mortgages. She was 34th overall in the rankings but tops among total closed loans. Way to dominate a niche!

Six originators accounted for 100% of their volume from purchases, while Citibank led in refinances. Of the top refinance originators, Citibank had the top seven, as well as 10 of the top 12.

Congratulations to everyone who qualified for Scotsman Guide’s Top Women Originators!