LoanOriginators


Banker & Tradesman’s 10th Annual Top Loan Originators

businessman clinging to string of dollar-shaped balloon above the clouds

iStock illustration

LOs in a Whole New World
Rising Interest Rates Upended 2022

By James Sanna
Banker & Tradesman Staff

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.

To make it through and stay on top, 2022’s top loan originators say they had to work harder than ever to close fewer purchase mortgages statewide than any year since 2015.

Buyers kicked off the year with the same fervor they showed in 2020 and 2021, eager – if not desperate – to land a house in one of the most competitive housing markets most had ever seen.

“My first sizable deal, I had someone offer $500,000 over asking and I thought, ‘Ok that’s how this year is going to go,’” said Christopher Butts, a loan originator at Leader Bank and one of the state’s top-producing LOs last year according to The Warren Group, publisher of Banker & Tradesman.

The Warren Group compiled the top loan originators of calendar year 2022 in Massachusetts from its proprietary loan originators module. The originators have been ranked by number of loans, loan volume statewide, by region and by the institution with which they are most closely affiliated.

“In the spring it was all about helping our candidates get their offers accepted in one of the most competitive markets in history. In the fall it was all about creating affordability for our clients,” said Guaranteed Rate’s Shant Banosian, the state’s most prolific loan originator by volume and number of loans.

The switch was sudden, as the Federal Reserve began aggressively increasing its benchmark interest rate in April from near zero to over 4 percent by the time the year ended.

The average rate on a 30-year, fixed rate loan rose like a rocket, from 3.76 percent in mid-March to a spring peak of 5.81 percent in mid-June, according to Freddie Mac, before shooting up again to 7.08 percent by the end of October.

“I specifically remember the turning point was very weird,” said Keith Hapenney, another top LO and loan originator at Leader Bank.

A popular loan product dubbed “Lock, Shop and Drop,” designed to let a prospective homebuyer lock a rate before starting to shop for a home turned into a loss-maker as the Federal Funds Rate rose by leaps and bounds.

“What was meant to be a product that brought people in ended up us getting our asses handed to us on the portfolio side,” Hapenney said.

Interest Rates Force Step-Change

Suddenly, LOs had to throw their operations into a different gear.

The decline in business meant that, statewide, residential purchase mortgage volumes fell off 13.34 percent for all of 2022, while residential refinance volumes dropped 35.91 percent, according to The Warren Group.

But the rise in home prices last year might mask the dramatic drop in business many LOs reported. Across Massachusetts, 17.9 percent fewer residential purchase loans were made, and 52.87 percent fewer refis.

Different LOs took different approaches to meeting this new challenge. For Banosian, it meant staying in frequent contact with the Realtors he works with on Zoom classes, in-person meetings and making social media videos to help keep them up to speed with what was helping buyers qualify for loans, and what wasn’t.

“I’d never spent more time in real estate offices and with clients [in-person] in the last six months of the year, even though we were doing less business,” he said.

Being a “beacon of communication” worked out well for Banosian and his team, he said, and let them find new relationships with Realtors and take market share.

Hapenney, too, hopped on the phone – but for a different reason. With a business built largely on referrals and repeat clients, “I had to grow.”

“Instead of pulling the covers over me and hiding waiting for the phone to ring, I had to figure it out,” he said.

He hired a business development assistant to help him ring up Realtors across the state who Hapenney had never worked with before, some of whom hadn’t necessarily even heard of Leader Bank, either.

“Clearly the number of swings [at bat] I was getting weren’t enough,” he said.

The two of them also worked with jam-packed schedules to follow up with customers who had bought houses with loans he’d originated, as well, to make sure their experience was a good one and root out any problems they might have encountered.

“It might be the difference between calling you back for a refinance or not or telling their friends and family about you,” Hapenney said.

Putting in the Extra Hours

And with customers who were struggling to stay in the market as prices and rates went up, Butts found himself spending a lot more time helping buyers understand their options and what might – or might not – work.

“A lot of people were stretching to afford a home because prices were so high. They wanted to do an ARM because it would bring a price down to what they wanted,” he said.

But behind their attractive interest rates, these adjustable-rate loans were more complex than many hopeful buyers realized. Uncertainty about the economy’s future meant Leader and other lenders had to make sure buyers would still be able to afford a higher interest rate when their loans repriced in a few years. That, and other complexities, meant Butts put in the effort to create a frequently asked questions document for any customer inquiring about ARMs.

“The bank has to assume a worst case for you,” he said. “It’s a bummer.”

Butts, Banosian and Hapenney each said they often had to take extra time to chart out additional options for buyers that might open up an avenue to affording a home, and educating buyers about the pitfalls of each.

Taking extra time, Hapenney said, also winds up ultimately burnishing his reputation with Realtors, who appreciate that it also lets him uncover or resolve issues that might cause a delay in loan approval once the buyer is trying to close on a home

“I’m not the pushy sales guy. There were some conversations that ended with, ‘Well, maybe you’re not ready to buy a house’ and it became a financial planning session instead,” Hapenney said. “It falls into doing the right thing instead of going for a sale, and I think customers appreciated it.”

By the end of 2022, Butts said, it was clear that the nature of the loan originator’s job had changed. And, with many of today’s buyers moving into homes holding mortgages with rates in the upper 6 percent range, maintaining relationships will open up opportunities for refinance relationships down the road.

“We’re in a world where it’s not like order-taking any more,” Butts said. “There’s a lot more education, there’s a lot more coaching.”


All over Massachusetts, 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 homeownershipfrom the Bay to the Berkshires. 

The Warren Group, publisher of Banker & Tradesman, has compiled the following list of the top loan originators of 2022. The originators are ranked by number of loans and loan volume statewide and by region, and by the institution with which they are most closely affiliated (credit unions, banks and mortgage companies). 

All loan totals in these rankings are for loans closed between Jan. 1 and Dec. 31, 2021; totals include both purchase and non-purchase loans for residential properties. The lenders listed here are the ones for which the originator made the majority of their loans within the year’s timeframe. Data sourced from public records may contain errors. For more information please contact Data Solutions at 617-896-5331.  

Banks Statewide Top Loan Originators by Volume
Rank Loan Originator Authorized to Represent Volume
1 Patricia MacDonald First Republic Bank $203,211,990 
2 Matthew E. Chabot The Washington Trust Co. $184,117,806 
3 Carter Witherspoon First Republic Bank $183,214,600 
4 Christopher Butts Leader Bank, N.A. $167,535,446 
5 Patricia Lotane Cape Cod Five Cents Savings Bank $163,884,998 
6 Sueann Sheehan First Republic Bank $160,066,206 
7 Meryl L. Watson Cape Cod Five Cents Savings Bank $157,586,860 
8 Lance Mackey First Republic Bank $155,821,581 
9 Richard Kertzman First Republic Bank $136,720,164 
10 Keith T. Hapenney Leader Bank, N.A. $135,486,376 
Banks Statewide Top Loan Originators by Number of Loans
Rank Loan Originator Authorized to Represent Volume
1 Patricia MacDonald First Republic Bank $203,211,990 
2 Matthew E. Chabot The Washington Trust Co. $184,117,806 
3 Carter Witherspoon First Republic Bank $183,214,600 
4 Christopher Butts Leader Bank, N.A. $167,535,446 
5 Patricia Lotane Cape Cod Five Cents Savings Bank $163,884,998 
6 Sueann Sheehan First Republic Bank $160,066,206 
7 Meryl L. Watson Cape Cod Five Cents Savings Bank $157,586,860 
8 Lance Mackey First Republic Bank $155,821,581 
9 Richard Kertzman First Republic Bank $136,720,164 
10 Keith T. Hapenney Leader Bank, N.A. $135,486,376 
Credit Unions Statewide Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Brittany Howe Digital Federal Credit Union $159,905,439 
2 James E. Hirbour Jeanne D’Arc Credit Union $136,097,323 
3 Angela M. Whiting Rockland Credit Union $103,056,940 
4 Erin Carlotto Greylock Federal Credit Union $86,223,347 
5 Kevin M. Gannon Metro Credit Union $65,556,199 
6 Jeffrey A. Accaputo Metro Credit Union $63,366,533 
7 Helen Laskaris Harvard University Employees Credit Union $62,974,850 
8 Patrick Capobianco MIT Federal Credit Union $61,119,640 
9 Gerard Stevens Jeanne D’Arc Credit Union $51,623,079 
10 Rich Clayton Workers Credit Union $45,852,215 
Credit Unions Statewide Top Loan Originators by Number of Loans

Rank Loan Originator Name Authorized to Represent Number of Loans
1 Brittany Howe Digital Federal Credit Union 749
2 Erin Carlotto Greylock Federal Credit Union 399
3 Amy Muenow Rockland Credit Union 346
4 Brian Nelson Digital Federal Credit Union 328
5 Daniel Cowing Rockland Credit Union 322
6 Angela M. Whiting Rockland Credit Union 294
7 Chelsey Flynn IC Credit Union 251
8 James E. Hirbour Jeanne D’Arc Credit Union 227
9 Cheryl Cooper Mass Bay Credit Union 218
10 Maria Hatstat RTN Federal Credit Union 206

 

 

Mortgage Companies Statewide Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Shant Banosian Guaranteed Rate Inc. $707,049,087 
2 Andrew Marquis CrossCountry Mortgage Inc. $290,894,272 
3 Luisa Bedoya MSA Mortgage LLC $114,589,303 
4 Allyson Kreycik Guaranteed Rate Inc. $106,859,049 
5 Jason Evans Guaranteed Rate Inc. $96,031,089 
6 Joseph Smith Guaranteed Rate Inc. $95,480,780 
7 Savvas Fetfatsidis Guaranteed Rate Inc. $93,821,215 
8 Denise A. Peach Total Mortgage Services LLC $92,634,875 
9 Craig Snell Milestone Mortgage Solutions $88,621,883 
10 Indy Johar Draper & Kramer Mortgage Corp $86,933,332 
Mortgage Companies Statewide Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Shant Banosian Guaranteed Rate Inc. 1,225
2 Andrew Marquis CrossCountry Mortgage Inc. 500
3 Denise A. Peach Total Mortgage Services LLC 335
4 Craig Snell Milestone Mortgage Solutions 243
5 Luisa Bedoya MSA Mortgage LLC 219
6 Nick Palermo Movement Mortgage 208
7 Jason Evans Guaranteed Rate Inc. 196
8 Kathryn Weldon Total Mortgage Services LLC 194
9 Jamie Pollard Academy Mortgage Corp 191
10 Savvas Fetfatsidis Guaranteed Rate Inc. 187
Banks Eastern MA Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Patricia MacDonald First Republic Bank $179,725,340 
2 Matthew E. Chabot The Washington Trust Co. $165,058,206
3 Carter Witherspoon First Republic Bank $161,421,950 
4 Sueann Sheehan First Republic Bank $150,480,356 
5 Christopher Butts Leader Bank, N.A. $142,907,386 
Banks Eastern MA Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Shelley Morrill Eastern Bank 333
2 Gail Colella Needham Bank 263
3 Christopher Butts Leader Bank, N.A. 262
4 Pamela O’Brien Eastern Bank 200
5 Keith T Hapenney Leader Bank, N.A. 197
Credit Unions Eastern MA Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 James E. Hirbour Jeanne D’Arc Credit Union $127,352,848 
2 Brittany Howe Digital Federal Credit Union $97,099,994 
3 Jeffrey A. Accaputo Metro Credit Union $59,088,458 
4 Helen Laskaris Harvard University Employees Credit Union $58,640,100 
5 Kevin M. Gannon Metro Credit Union $58,532,470 
Credit Unions Eastern MA Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Brittany Howe Digital Federal Credit Union 406
2 James E. Hirbour Jeanne D’Arc Credit Union 211
3 Brian Nelson Digital Federal Credit Union 202
4 Cheryl Cooper Mass Bay Credit Union 174
5 Maria Hatstat RTN Federal Credit Union 172
Mortgage Companies Eastern MA Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Shant Banosian Guaranteed Rate Inc. $601,705,073 
2 Andrew Marquis Crosscountry Mortgage Inc. $253,220,752 
3 Luisa Bedoya MSA Mortgage LLC $108,663,253 
4 Allyson Kreycik Guaranteed Rate Inc. $98,407,849 
5 Joseph Smith Guaranteed Rate Inc. $89,133,730 
Mortgage Companies Eastern MA Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Shant Banosian Guaranteed Rate Inc. 987
2 Andrew Marquis Crosscountry Mortgage Inc. 419
3 Luisa Bedoya MSA Mortgage LLC 203
4 Joseph Smith Guaranteed Rate Inc. 169
5 Allyson Kreycik Guaranteed Rate Inc. 163
Banks South Coast, Cape & Islands Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Patricia Lotane Cape Cod Five Cents Savings Bank $155,439,498 
2 Meryl L. Watson Cape Cod Five Cents Savings Bank $146,612,860 
3 Daniel J. Pulit Cape Cod Five Cents Savings Bank $110,065,692 
4 Lauren M. Ard Cape Cod Five Cents Savings Bank $90,438,809 
5 B Catherine O’Neill Cape Cod Five Cents Savings Bank $86,200,552 
Banks South Coast, Cape & Islands Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Patricia Lotane Cape Cod Five Cents Savings Bank 284
2 Daniel J. Pulit Cape Cod Five Cents Savings Bank 238
3 Meryl L. Watson Cape Cod Five Cents Savings Bank 210
4 Kathleen Phillips The Cooperative Bank of Cape Cod 189
5 (tie)
B. Catherine O’Neill Cape Cod Five Cents Savings Bank 137
5 (tie) Diane M. Pansire Cape Cod Five Cents Savings Bank 137
Credit Unions South Coast, Cape & Islands Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Angela M. Whiting Rockland Credit Union $60,684,289 
2 Rose Cortes St. Anne’s Credit Union $27,910,269 
3 Amy Muenow Rockland Credit Union $22,338,500 
4 Daniel Cowing Rockland Credit Union $19,889,900 
5 Paola Ferrara Liberty Bay Credit Union $16,642,312 
Credit Unions South Coast, Cape & Islands Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Daniel Cowing Rockland Credit Union 238
2 Amy Muenow Rockland Credit Union 233
3 Angela M. Whiting Rockland Credit Union 190
4 Kerri A. Manchester St. Anne’s Credit Union 173
5 Lori King New Bedford Credit Union 144
Mortgage Companies South Coast, Cape & Islands Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Craig Snell Milestone Mortgage Solutions $84,992,069 
2 Shant Banosian Guaranteed Rate Inc. $51,536,451 
3 Ryan J. D. Morgan Mortgage Corp East III $40,282,100 
4 Anthony Raby Fairway Independent Mortgage Corp. $37,947,789 
5 Jessica Celia Loandepot.com LLC $37,229,152 
Mortgage Companies South Coast, Cape & Islands Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Craig Snell Milestone Mortgage Solutions 235
2 David Pereira United Wholesale Mortgage 107
3 Anthony Raby Fairway Independent Mortgage Corp. 99
4 Shant Banosian Guaranteed Rate Inc. 97
5 Vernon Miles Milestone Mortgage Solutions 88
Banks Central MA Top Loan Originators by Volume

Rank Loan Originator Name Authorized to Represent Volume
1 David Sampson UniBank For Savings $30,788,212 
2 John Ryan Clinton Savings Bank $26,450,176 
3 Richard Renaud Bangor Savings Bank $26,105,802 
4 Shrenik Shah Avidia Bank $23,304,018 
5 Nicholas Lynch Webster Five Cents Savings Bank $21,280,359 
Banks Central MA Top Loan Originators by Number of Loans

Rank Loan Originator Name Authorized to Represent Number of Loans
1 Darryl Caffee Webster Five Cents Savings Bank 133
2 Tara L. Hart Five Points Bank of Hastings 95
3 Venetia Donnelly Milford Federal Bank 94
4 (tie) John Ryan Clinton Savings Bank 79
4 (tie) Allison M. Giangrande Fidelity Cooperative Bank 79
5 Lisa A. Birtz Savers Cooperative Bank 76
Credit Unions Central MA Top Loan Originators by Volume

Rank Loan Originator Name Authorized to Represent Volume
1 Brittany Howe Digital Federal Credit Union $49,492,580 
2 DawnMarie Ferry IC Credit Union $25,008,375 
3 Chelsey Flynn IC Credit Union $21,736,710 
4 Gina Vecchi GFA Federal Credit Union $16,135,195 
5 Jacob Lippman Leominster Credit Union $14,773,310 
Credit Unions Central MA Top Loan Originators by Number of Loans

Rank Loan Originator Name Authorized to Represent Number of Loans
1 Brittany Howe Digital Federal Credit Union 275
2 Chelsey Flynn IC Credit Union 214
3 Linda Taratuta Leominster Credit Union 133
4 DawnMarie Ferry IC Credit Union 127
5 Veronika Tovanyan Worcester Credit Union 111
Mortgage Companies Central MA Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Denise A. Peach Total Mortgage Services LLC $60,936,685 
2 Shant Banosian Guaranteed Rate Inc. $47,730,904 
3 Kathryn Weldon Total Mortgage Services LLC $36,972,586 
4 William B. Murphy Fairway Independent Mortgage Corp. $36,934,613 
5 Trevor M. McFarland Guild Mortgage Co. $34,170,049 
Mortgage Companies Central MA Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Denise A. Peach Total Mortgage Services LLC 217
2 Kathryn Weldon Total Mortgage Services LLC 142
3 Trevor M. McFarland Guild Mortgage Co. 126
4 Shant Banosian Guaranteed Rate Inc. 124
5 William B. Murphy Fairway Independent Mortgage Corp 120
Banks Western MA Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Kaylin Choquette Adams Community Bank $46,740,542 
2 Lindsay B. Labonte HarborOne Bank $45,194,801 
3 Kathleen Caputo PeoplesBank $42,966,657 
4 Johnny Acevedo Florence Bank $37,585,906 
5 Toby L. Daniels Florence Bank $34,146,181 
Banks Western MA Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Johnny Acevedo Florence Bank 210
2 Dawn Lampiasi Adams Community Bank 170
3 Laurie Pelczynski Adams Community Bank 167
4 Kaylin Choquette Adams Community Bank 167
5 Kathleen Caputo PeoplesBank  141
Credit Unions Western MA Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Erin Carlotto Greylock Federal Credit Union $84,366,147 
2 Christine Gagnon Polish National Credit Union $35,875,456 
3 Sarah Gaffey Greylock Federal Credit Union $31,415,165 
4 Lisa Mish Freedom Credit Union $26,694,966 
5 Maribel Torres Polish National Credit Union $23,803,220 
Credit Unions Western MA Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Erin Carlotto Greylock Federal Credit Union 395
2 Sarah Gaffey Greylock Federal Credit Union 196
3 Lisa Mish Freedom Credit Union 167
4 Christine Gagnon Polish National Credit Union 158
5 Jennifer Paquette Greylock Federal Credit Union 150
Mortgage Companies Western MA Top Loan Originators by Volume
Rank Loan Originator Name Authorized to Represent Volume
1 Nick Palermo Movement Mortgage $54,111,993 
2 Kathryn M. Reagan-Talbot Guild Mortgage Co $35,390,772 
3 Jamie Pollard Academy Mortgage Corp $34,831,393 
4 Jason Jean Academy Mortgage Corp $27,395,644 
5 Mary T. Quesnel Mortgage Network Inc $26,303,485 
Mortgage Companies Western MA Top Loan Originators by Number of Loans
Rank Loan Originator Name Authorized to Represent Number of Loans
1 Nick Palermo Movement Mortgage 201
2 Jamie Pollard Academy Mortgage Corp. 178
3 Kathryn M. Reagan-Talbot Guild Mortgage Co. 141
4 Eileen Hennessey Academy Mortgage Corp. 134
5 Jason Jean Academy Mortgage Corp. 112

This Week’s Newspaper