A hard money lender, a commercial real estate lender and even a U.S. government agency all reported record annual mortgage originations. Several lenders claimed the top spots in their respective cities.
During its fiscal year ended Sept. 30, 2013, the Department of Veterans Affairs guaranteed 629,312 mortgages for roughly $141.6 billion. Business increased from 539,885 loans for $119.2 billion in 2012.
Since VA began guaranteeing residential mortgage in 1944, more than 20 million VA home loans have been closed.
Last year’s mortgage production at PrimeLending exceeded $11 billion, the company reported in February. PrimeLending said it was the No. 4 originator of purchase financing last year based on units.
PrimeLending, which is headquartered in Dallas, says that it operates 300 branches in 42 states and employs more than 2,500 “professionals.”
During the 12 months ended Nov. 12, 2013, Eagle Home Mortgage reports that it originated $5.4 billion.
A Jan. 29 news release indicated that Prosperity Home Mortgage funded more than 12,400 loans for $3.6 billion during 2012. The Chantilly, Va.-based firm reports that it has more than 140 mortgage consultants.
In the Milwaukee area, Waterstone Mortgage Corp. originated $1.808 billion during 2013, making it the biggest lender in Milwaukee, according to a story by the Milwaukee Business Journal.
USA Mortgage reported total originations last year exceeded $1 billion for the fifth year in a row. With 514 Missouri loans for $0.059 billion originated through the U.S. Department of Agriculture’s Guaranteed Rural Housing program during the fiscal year ended Sept. 30, 2013, USAÂ Mortgage claims it was the largest USDA lender in the state.
The No. 1 mortgage lender in Boston last year was Mortgage Master Inc., according to a ranking from the Boston Business Journal. The Walpole, Mass.-based company reportedly closed around 299 loans for $0.096 million.
Mortgage Master reported last month that 21 percent of its loan officers — or 67 originators — were qualified to be considered for the Scotsman Guide’s top 2013 originator rankings. Eligibility is reportedly based on minimum volume of at least 100 loans or $30 million. As of Feb. 21, “loan experts” accounted for 320 of Mortgage Master’s more than 720 total employees.
Michael Brown of Churchill Mortgage was one of only 12 loan officers to receive the Nashville Mortgage Bankers Association’s Diamond award, which goes to originators with at least $50 million in loan originations last year, according to the Brentwood, Tenn.-based company. Another 12 Churchill loan officers were recognized for generating at least $10 million in production.
In Sarasota County, Fla., SunTrust Bank was responsible for $0.039 billion of the $0.270 billion in residential loans closed in December, more than any other lender, the Herald Tribune reported.
Hard money originations were $0.026 billion at California Capital Real Estate Advisers in 2013, up 183 percent from 2012, Inside Mortgage Finance reported. Mark Mozilo, a principal at the firm, is the son of famed Countrywide Home Loans founder Angelo Mozilo.
In the commercial mortgage arena, a record $15.8 billion in CRE loan originations was reported for 2013 by Prudential Mortgage Capital Co., up from $12.2 billion in 2012.
Last year’s volume at Prudential included $0.848 billion in production from Europe and Japan, $2.2 billion in conventional agency loans and $0.913 billion loans for commercial mortgage-backed securities.
For the third consecutive year, Beech Street Capital ranked as one of Fannie Mae’s five-biggest multifamily originators, a Feb. 18 statement said. In addition, it was No. 6 among Freddie Mac’s top sellers in 2013. FHA volume was up nearly two-thirds from 2012.
Bethesda, Md.-based Beech Street’s commercial mortgage servicing portfolio includes 913 loans for almost $10.9 billion.
