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photo, Alex Satanovski; David Musk; Tom Lavalle
Preliminary returns from SourceMedia's nationwide Survey of Mortgage Loan Production in 2005 reads like a horse race as players change positions in the production lists according to loan numbers and funding volumes.
The top three individual producers for the year all did volume over $200 million. At the very top is Alex Santanovsky of Robbins & Lloyd Mortgage Corp., Mequon, Wis., with volume of $368 million. Next was last year's No. 3., David Musk of Pavilion Capital Group, Omaha, Neb., at $278 million. The survey's top producer for 2004, Tom Lavallee of Mortgage Bancorp Services, Palatine, Ill., was third at $254 million. (Editor's Note: There is a story about Mr. Lavallee's colleague, Jim Nuesslein, who ranked seventh in the survey, starting on page 66.)
From the gate, as pony players say, Meridias Capital of Henderson, Nev., was a lead contender for the title of largest producing company with eight producers among the country's top 25 originators. Benefiting from its location, some 20 miles south of Las Vegas, Meridias closed a total of 10,147 loans in 2005, with a total dollar volume of $1.7 billion. Note these figures are submitted by the companies and not verified by Broker.
Even though it had the most individual producers at the top of the survey, in the list of top mortgage broker companies, American Mortgage Co. of Franklin, Tenn., had thundered past the firm to dominate the field with $6.2 billion volume.
The scenario of having a large number of individual originators in that portion of the survey not being at the top of the list of top producing companies was repeated in the second slot. Mortgage Financial Services Inc., Tewksbury, Mass., had 23 producers crowding the Top 100 Originators list. However, the firm's 2005 production of 4,112 loans closed and $853 million in dollar volume was outdistanced by Residential Mortgage Capital of San Rafael, Calif., with a volume of $5.5 billion. In fact 10 other firms reported funding volumes of $1 billion and more, which pushed Mortgage Financial Services to 13th in the running.
To show how much this data could change, last year's top producing company, Allied Home Mortgage Capital Corp., Houston, and the fifth-place firm, Mortgage Master, Walpole,...