Risky Business

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 47 of 83

Local Edition S e c on da r y M a r k e t a na ly t ic s se r v ic i ng or ig i nat ion ORIGINATION The financial services holding company announced in October it had entered into an agreement with Genworth Financial Corporation to purchase Liberty Home Equity Solutions, at the time known as Genworth Financial Home Equity Access. The purchase price was approximately $22 million. Ocwen CEO Ron Faris expressed his excitement in the company's third-quarter earnings report, saying the deal "positions [Ocwen] well in a market with enormous future growth potential." He maintained that outlook in the company's recent announcement. "Liberty is the industry leader in helping seniors secure their retirement with strong customer service and superior quality. We believe this promising market offers enormous long-term growth potential, and this purchase positions Ocwen to capture that growth," Faris said. "We are very excited to complete this transaction and become a part of one of the largest mortgage servicing and origination companies in the industry," said Pete Engelken, president of Sacramento-based Liberty. "Together we will be able to help even more seniors with home equity retirement income solutions, including FHA [Federal Housing Administration] and proprietary products." Guaranteed Rate Lauded as Leading Mortgage Company The Chicago-based business is head of its class, according to Mortgage Executive Magazine. ILLINOIS // Mortgage Executive Magazine named Guaranteed Rate the No. 1 mortgage company in America. In addition to taking the top spot on the publication's annual 46 | The M Report coupled with our products, tools, and processes, enables us to provide better service to more and more customers." Guaranteed Rate, headquartered in Chicago, is the 10th retail mortgage lender in the United States. Capital Bank congratulated two of its rising stars for their rankings as Scotsman Guide 2012 Top Originators. Capital Bank Twosome Honored as Top Originators in 2012 Brad Cohen and Brian Blonder earned high marks from the Scotsman Guide last year. list of the top 200 mortgage companies, Guaranteed Rate has more loan officers included in the top 1 percent of the industry professionals across the country and has the most loan officers in the top 200 than any other company, with 30 included on the list. The lender also had four originators in the top 10, including Indy Johar, the top-ranked originator in the country last year with more than $400 million in originations. Guaranteed Rate attributes its growth in the last several years to a number of factors, including a comprehensive, aggressively priced product; an efficient processing platform; automated marketing that keeps originators top-of-mind with their clients; and best-in-class technology that significantly shortens closing time. The company also boasts a 96 percent customer satisfaction rating, according to a release. "Our strategy of taking away non-selling activities from our originators so that they can focus on satisfying our borrowers has been the key to our success; and we're very proud to be honored by Mortgage Executive Magazine as the top mortgage company in America and the one with the highest-performing loan officers," said Victor Ciardelli, president and CEO of Guaranteed Rate. "We have a great team here at Guaranteed Rate and this, MARYLAND // Capital Bank congratulated two of its rising stars for their rankings as Scotsman Guide 2012 Top Originators. The 2012 list marks the second appearance of Brad Cohen and Brian Blonder in the ranks of top originators. Cohen took the No. 8 spot in Top Dollar Volume, closing 758 loans totaling more than $279 million. Blonder ranked No. 12, with 769 loans totaling more than $256 million. Additionally, Blonder ranked seventh in Federal Housing Administration-backed (FHA) loans, and both Cohen and Blonder ranked Nos. 5 and 6, respectively, in Refinance Volume. The two originators were ranked among entries from nearly 1,500 mortgage professionals across the country. To be eligible for initial consideration, originators must have had at least $30 million in loan volume or 100 closed home loans for the 2012 calendar year. "The success of Brad and Brian is a direct reflection of their approach to customer service," said Scot Browning, president of Maryland-based Capital Bank. "Their top rankings demonstrate the commitment they bring to providing the highest level of service to our customers, and we couldn't be happier to have them on our team."

Articles in this issue

Archives of this issue

view archives of TheMReport - Risky Business