Mortgage Master announced it generated record production volume of $3.97 billion for the first six months of 2013, compared to $3.25 billion in the same period in 2012. In 2012, Mortgage Master increased its originations to a record $7.3 billion, from $5.5 billion in 2011. Mortgage Master, which was the leader in Massachusetts in terms of residential loan production for the full year 2012 (bank or mortgage banker), maintained the number one position in Massachusetts for the first half of 2013, according to data compiled by The Warren Group. For the first six months of 2013, Mortgage Master’s Massachusetts production was $2.17 billion.
“Our model of providing the best possible pricing and service to borrowers, and the commitment of our talented employees, have been the driving force behind our success over the last 25 years,” said Paul Anastos, president of Mortgage Master. “As we expand and leverage our successful model across the U.S., we continue to hire quality loan officers looking to join a lender that is committed to helping borrowers find the right mortgage solution.”
In the first half of 2013, Mortgage Master:
►Generated record production of $3.97 billion compared to $3.25 billion in the same period in 2012.
►Maintained the number one leadership position in Massachusetts (bank or mortgage banker) with $2.17 billion of residential loan volume.
►Average production per loan officer was $16 million, significantly above industry averages.
From July 2012 to June 2103 closed $8.1 billion in loans or 25,700 units. For this period, average production on an annualized basis per loan officer was $32 million, significantly above industry averages.
►Jumbo loan production increased 65 percent compared to the same period in 2012.
19 loan officers ranked in the top 300 of loan officers in the U.S. by 2012 dollar volume.
►Added 31 new loan officers.
►Licensed in four new states including, Illinois, Michigan, Texas and Wisconsin.
►Expanded branch network by adding five new branch offices in Brooklyn, N.Y.; Chicago; Lisle, Ill.; LaJolla, Calif.; and Simsbury, Conn.
►Opened a new operation center in Lisle, Ill.
“As we celebrate our 25th year of business, the results we are seeing today, not only in Massachusetts, but across the country, are a testament to the outstanding individuals that make up the Mortgage Master team," said Anastos. "Our employees are proud to work for Mortgage Master and are committed to our mission of delivering the perfect mortgage solution and the ultimate customer experience to all clients."