Top Producers 2020 of FHA-insured loans Nos. 1-25

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National Mortgage News is counting down the top 25 Federal Housing Administration originators in the 2020 Top Producers Survey.

Though market conditions are rapidly changing due to the coronavirus pandemic and the government's response to it, the insights these producers offered in February create a snapshot of the industry's most contentious issues. A number of those answers involved the FHA program.

For Andrew Oliva, who was the sixth most prolific FHA originator on the list, the most problematic issue at the time was "the ability for FHA/VA borrowers with super high rates but bad credit to easily get a lower rate without having to go through [the Higher Priced Mortgage Loan impound requirements].”

“If they are paying 6% now and qualify for a rate reduction refinance to 4.5%, why would they need HPML for that?” wrote the senior loan officer from Oceanside Mortgage in Toms River, N.J.“What has to happen is that HPML should not apply to Streamline refinances."

His colleague at Oceanside, Laurie Kleissler, who ranked 10th on the list, commented that "The mortgage industry needs to address the problem with down payment assistance programs and how they often leave the homeowner with a higher rate that is difficult to get out of." Even with the ability to go to loan-to-value ratios as high as 96.5%, many FHA borrowers need help from the DPA programs.

Other respondents, who are not among the top 25, gave answers that indicated why they prefer not to do a lot of FHA loans.

"I believe the mortgage industry needs to address the FHA annual mortgage insurance premiums and should make them risk-based again, so the higher your credit score, the better the premiums you get...just like conventional PMI," said Chad Bowers, a senior mortgage consultant at Huntingdon Valley Bank in Wilmington, Del. "I also think FHA needs to address the student loan problem and having to count 1% of the balance on deferred student loan or ones in income-based repayment programs.”

The government-guaranteed lending programs need to better address a particular segment of the market, said Jill Thacker, a loan officer in CMG Financial's Las Vegas office. "I do wish there were more options for condo buyers who need to go FHA or VA. FHA is taking a step in the right direction but that process is going to need to change in order for it to make a difference," she said.

Rank Name Company FHA dollar volume FHA number of units Total dollar volume Total number of units
1 Nicholas Barta Security First Financial $76,820,158 268 $109,788,937 559
2 Matt Andre FBC Mortgage $68,447,038 289 $231,960,067 858
3 Timothy Barbieri Oceanside Mortgage $59,320,865 330 $67,575,075 370
4 Christopher Keelin Family First Funding $53,565,740 187 $173,626,393 622
5 Michael James Kiley Oceanside Mortgage $52,682,619 285 $59,775,822 321
6 Andrew Oliva Oceanside Mortgage $50,518,049 299 $59,392,396 342
7 Lauren Maxwell CrossCountry Mortgage $49,872,837 192 $165,188,310 604
8 David Stallings Homestar Financial $48,272,084 217 $74,264,745 333
9 Carey Ann Cyr CMG Financial $46,629,999 201 $163,357,258 677
10 Laurie Kleissler Oceanside Mortgage $45,848,461 268 $54,322,053 318
11 Robert Oliver Oceanside Mortgage $44,221,297 245 $48,783,464 267
12 Michael Rodriguez Platinum Capital Mortgage $43,055,000 109 $287,769,349 528
13 Karen Nielson Guild Mortgage $41,894,234 191 $146,610,730 696
14 Silverio Garcia GEM Mortgage $39,025,712 79 $147,893,049 340
15 Ivan Pastor Interlinc Mortgage Services $36,925,124 177 $67,531,788 323
16 John Thomas Primary Residential Mortgage $35,781,740 169 $58,793,255 264
17 Michael Borodinsky Caliber Home Loans $31,980,000 121 $209,900,000 646
18 Michael Bornstein NewFed Mortgage $31,901,201 86 $149,379,963 405
19 Lee Samaha Oceanside Mortgage $31,797,295 179 $33,657,881 191
20 Jerry DeMaio Family First Funding $31,108,250 101 $76,678,346 247
21 Josh Moody Goldwater Bank $30,907,501 155 $84,689,828 384
22 Douglas Bateman Gold Financial Services $30,904,503 109 $56,817,943 201
23 Steve Thompson Gateway Mortgage Group $30,735,112 163 $86,452,191 489
24 Craig Andriulli Bond Street Mortgage $27,992,537 73 $138,104,561 346
25 David Hosterman Citywide Home Loans $27,771,214 99 $77,142,261 276

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