Mortgage company sees major jump in production

by Diana Aqra17 Jul 2013

Regional retail mortgage company, Mortgage Master, increased loan production roughly 22% for the first six months of 2013, the company released.

Production was approximately $4bn, up from $3.25bn in the first six months of 2012. The company's main presence is in Massachusetts, where they are the number one originator.

A rise in production can be attributed to its growing regional presence in states like California, the building of a central operations center, record low interest rates and a pick-up in the mortgage market, according to John Lovallo, spokesperson for the company.

Mortgage Master was founded in 1988 by Leif Thomsen and employs many of the top originators in the country. The company employees more than 760 employees and 265 loan officers, where the average loan officer produced US $16m in the first six months of 2013. Last year, the company recorded US 7.3bn in originations.

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