Guaranteed Rate’s Shant Banosian has topped his record-setting 2020 in a big way: year-to-date, the loan officer has funded a whopping $2 billion in total origination volume, the lender announced on Tuesday.

The figure is believed to be a record for a retail loan originator.

Banosian, who has several dozen team members, has funded over $7 billion loans throughout his career. In June 2021, the Massachusetts-based LO said he had eclipsed the $1 billion mark, breaking his own record from 2020, a year in which LOs across the country took advantage of the historic refi boom. He finished 2020 with $1.7 billion in origination volume, across 3,551 loans.

He was one of about a half-dozen loan officers to clear $1 billion in volume in 2020. His Guaranteed Rate colleague Ben Cohen, the top LO in Illinois, closed more than 2,300 loans last year (Cohen also eclipsed the $1 billion threshold in September 2021). And Thuan Nguyen, who leads tech-forward mortgage brokerage LoanFactory, cleared $2 billion in 2020 across 5,200 loans.

Others who landed in the $1 billion club last year include Chris Gallo, of mortgage brokerage NJ Lenders Corp.; Indy Johar of Draper & Kramer Mortgage Corp; and Mike Roberts, of City Creek Mortgage.

Banosian, who has been with Guaranteed Rate for over 14 years and is licensed in 50 states, said in a statement that his success this year has been aided by Guaranteed Rate’s technology platform, which has helped him close loans quickly.

“By putting our clients and real estate partners on the purchase side in a position to win, we are able to serve more homebuyers in this very competitive marketplace,” he added.

Banosian told HousingWire last year that the key to his success is his team, and focusing on what consumers need and want. Banosian said he constantly tweaks his business model based on feedback from clients to provide better service and become more efficient.

“It’s one of those cliches: you don’t want to just work in the business, you need to work on the business,” Banosian said.

According to the Scotsman Guide, Banosian has been rated as one of the top five loan originators in the U.S. for six years, including two consecutive years as number one.

Other top Guaranteed Rate originators include Risha Kilaru, who originated $540 million in 2020, and Tom Lavalee, who originated $449 million last year.

The post Guaranteed Rate’s Shant Banosian clears $2B in originations in 2021 appeared first on HousingWire.

Guaranteed Rate’s Shant Banosian clears $2B in originations in 2021
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