Mortgage Master Generates Record Production, Close to $4B in First Half
Mortgage Master, Walpole, Mass., on Wednesday released figures showing its production for the first half has risen to a new record $3.97 billion from $3.25 billion during the first six months of 2012 and that its jumbo originations during the period were up 65%.
President Paul Anastos in a press release credited the 25-year-old company’s service levels in combination with its continuing selective geographic expansion and hiring for its growth.
The company added 31 new loan officers during the period and received licenses to do business in four new states: Illinois, Michigan, Texas and Wisconsin. It also expanded its branch network, adding new offices in Brooklyn, N.Y.; Chicago; La Jolla, Calif.; Simsbury, Conn.; and Lisle, Ill., where it also opened a new operation center.
The private mortgage company also revealed other figures Wednesday showing its average production per loan officer during the first half was $16 million, and that from July 2012 to June of this year it closed $8.1 billion in loans, or 25,700 units. During this period, its average production per LO was $32 million.