Last year may have started off with a bang for many Massachusetts loan originators, but the sprint rapidly slowed to a jog, and then a slog, as rising interest rates upended the residential mortgage market.
Last year was one of the busiest on record for the state’s loan originators. So, who came out ahead in the $127.2 billion market? Banker & Tradesman has analyzed the results and identified the top loan originators in Massachusetts.
The pandemic challenged loan originators to find ways to meet the rapidly changing needs of consumers and the real estate industry. And a select few rode this wave to the top of their industry.
With Massachusetts still lacking the inventory needed to meet buyer demand, loan originators have had to get creative in how they work with prospective homeowners.
So many are consumed by the day-to-day in the world we currently live. They just need a reminder that we can help with some of the financial burden if they just take five minutes to call so that I can evaluate their finances.
There are many different ways to succeeding in the mortgage business, but Luisa Bedoya of MSA Mortgage has built her career on focusing on Latino homebuyers. Her strategy is beginning to pay dividends, helping her originate close to $90 million in total loan volume in 2018.
Massachusetts’ housing recovery was one of the fastest in the nation and is still going strong in most areas of the state. Some cities and towns have already surpassed their previous peaks, though some others are struggling to regain those highs. All over the state, loan originators have worked hard in the face of increased demand and increased regulatory burden; they are to be commended for their well-deserved success and their contributions to helping families achieve their dreams of homeownership.
Nobody expects much good to come of a thudding new rulebook of federal regulations, but the passage of 2010 SAFE Act, part of the post-crash attempts to tighten the screws on the mortgage industry, has created one unanticipated benefit: allowing us here at Banker & Tradesman to acknowledge some of the best and brightest mortgage industry professionals in Massachusetts in what has been a very tough market, in this, our inaugural top loan originators rankings.