Innovation, Improving Market Helped LOs Take Home Gold
Massachusetts’ top loan originators did battle with high interest rates in 2024, but they still found ways to succeed.
Massachusetts’ top loan originators did battle with high interest rates in 2024, but they still found ways to succeed.
Prospective home sellers felt trapped in 2023, but watched their equity hit record levels. That made renovations funded by home equity loan products an attractive option – something Massachusetts’ top loan originators were happy to offer.
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.
Boston-based Guaranteed Rate loan originator Shant Banosian has originated $1 billion in loans nationwide this year, the company said, citing internal data that runs through June 15.
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.