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Contact
Ron Litt, VP, CIO
Allied Home Mortgage Capital Corporation
(713) 353-0400
By Brad Finkelstein
In our composite sampling of the mortgage broker industry for 2001, a number
of trends are obviously clear.
The survey, which is still being conducted by Mortgagestats.com, shows that
production was nearly double that of 2000.
Virtually every company in the sample posted volume gains of over 20% except
for three, one of which saw its volume go up 14%, while one remained static.
There was one firm, U.S. Credit Bancorp Inc., Santa Monica, Calif., whose
originations declined by 8%. U.S. Credit was No. 7 in terms of volume in
2001, but will not be in the top 10 for this year when the final numbers are
compiled.
Most impressive is the number of mortgage brokers whose volume broke the $1
billion barrier.
According to the final tally in the 2000 industry survey, only six companies
had production over $1 billion and one of those companies was a commercial
mortgage broker. So far there are at least 11 companies over the $1 billion
annual level.
The preliminary data collection has Prism Mortgage Corp. of Chicago
remaining as the largest mortgage broker, with volume of $9.5 billion.
However, the second largest residential company, Allied Home Mortgage Capital
Corp., the net branching operation based in Houston, used that vehicle to
support explosive growth in that company. Its volume went from $3 billion to
$9 billion. In 1999, the company only did $2.3 billion.
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Top Broker Companies
$ in millions
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| Rank |
OrganizationName |
Location |
'01 Volume |
'00 Volume |
|---|
| 1 |
Allied Home Mortgage Capital Corp. |
Houston, TX |
$9,000 |
$3,000 |
| 2 |
RBC Mortgage Company |
Chicago, IL |
$7,440 |
$3,590 |
| 3 |
NorthMarq Capital, Inc. |
Bloomington, MN |
$4,000 |
na |
| 4 |
First Security Loan Corp. |
San Rafael, CA |
$2,500 |
$1,500 |
| 5 |
First Home Mortgage Corp. |
Mount Prospect, IL |
$2,400 |
$1,084 |
| 6 |
Mortgage Master |
Norwood, MA |
$2,200 |
$825 |
| 7 |
Guaranty Residential Lending |
Silver Spring, MD |
$1,600 |
na |
| 8 |
Olympic Funding |
Pleasanton, CA |
$1,500 |
$1,000 |
| 9 |
Franklin American Mortgage Co. |
Franklin, TN |
$1,100 |
$812 |
| 10 |
Novastar Home Mortgage, Inc. |
Westwood, KS |
$1,100 |
$198 |
| 11 |
Carteret Mortgage Corporation |
Centerville, VA |
$1,003 |
$500 |
| 12 |
Johnson Capital Group, Inc. |
Irvine, CA |
$1,000 |
$654 |
| 13 |
PNC Real Estate Finance |
Kansas City, MO |
$1,000 |
$800 |
| 14 |
American Pacific Mortgage Corp. |
Roseville, CA |
$997 |
na |
| 15 |
Mortgage Loan Specialists, Inc. |
Solana Beach, CA |
$900 |
$786 |
| 16 |
U.S. Credit Bancorp, Inc. |
Santa Monica, CA |
$900 |
$975 |
| 17 |
Banc Group Mortgage Co. |
Palos Hills, IL |
$891 |
$417 |
| 18 |
Spectrum Financial Group, Inc. |
Scottsdale, AZ |
$889 |
$492 |
| 19 |
Nova Fin. & Investment Corp./Nova Home Loans |
Tucson, AZ |
$836 |
$352 |
| 20 |
The Mortgage Exchange, Inc. |
Oak Brook, IL |
$700 |
$525 |
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About Allied Home Mortgage Capital Corporation
Allied Home Mortgage Capital Corporation is the largest U.S. privately held mortgage banker/mortgage broker, with offices in 49 states, Guam and the Virgin Islands. Allied's development of over 700 investors with several thousand programs and innovative partnerships have allowed it to deliver customized products to each borrower. Combined with the energy of branch managers who have the freedom to respond to local market conditions, Allied has experienced sequential double-digit growth since it was founded in 1991. For more information about the company, visit Allied's websites at
www.branchasap.com and
www.mortgageasap.com.
Corporate address: Allied Home Mortgage Capital Corporation, 6110 Pinemont Ave, Houston, TX 77092. Telephone: (713) 353-0400.
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