Mortgage Industry Roars to Record Year, Courtesy of the Fed
- Lenders will originate $4.1 trillion, eclipsing 2003 record
- Profit margins now fattest ever but could slip in 2021
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The Federal Reserve has handed U.S. mortgage lenders their best year ever. Nobody knows that better than Shant Banosian, the industry’s first billion-dollar salesman.
By his own count, the loan officer is personally set to originate a staggering $1.5 billion of home loans by year’s end from his office outside of Boston, a record in a year of records for the mortgage business.