Ben Cohen gets to be second Assured Price LO to originate $1 billion
A handful of brief months after Shant Banosian turned Assured Price's first mortgage officer to originate $1 billion inside a yr, one other Assured Price mortgage officer has joined that unique membership. Ben Cohen, managing director and senior vice chairman of mortgage lending in Chicago, has funded $1 billion in complete mortgage quantity this yr.
Cohen, who funded $639 million in 2021, ranked second within the U.S. on the Scotsman Information's record of Prime 2021 Originators and on the Nationwide Mortgage Information 2021 Prime Producers record.
In a job interview with HousingWire, Cohen credited help from Assured Price, the job of his group, which numbers about 40, and the household, for reaching the billion-dollar mark.
“I've been with Assured Price since 2010, after I acquired here on, I used to be originating about $40 million in enterprise. Assured Price has allowed me the woking platform to go and do what I do finest, which would be to promote mortgages and qualify debtors. And, I’m nothing without having my workers.”
“That is proof that something is feasible for individuals who set your thoughts to it,” mentioned Assured Price President and Chief Government Officer Victor Ciardelli. “Ben set the great reason for smashing the billion greenback mark in a single yr, which is simply doable by perception. Ben and the group set an excellent demonstration of positivity in motion.”
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Offered by: CoreLogic
Cohen reorganized his group about six years previously, as he had grown his origination to about $150 million. He introduced on Manufacturing Supervisor Mike Dye, whom he says operates just like the COO of his group, closing the debtors that Cohen brings in. His group's focus is offering unimaginable customer care, Cohen mentioned, capturing the all-important referral enterprise different mortgage officers may overlook.
“Typically lenders are extremely targeted on a single part of their enterprise – this yr, refi – they neglect regarding their referral companions,” Cohen mentioned. “We see it like a possibility to capitalize on different folks's failures. We’re targeted on creating an increasing number of relationships as a result of proper now lots of people can't get ahold of their lender, they aren't obtaining the communication they want from their store.”
Cohen began his profession as an IT advisor, working internationally like a technical architect by having an IT agency earlier than realizing his true present lay in creating relationships. An acquaintance obtained him within the mortgage enterprise, the area he acknowledged an opportunity to utilize these relationship knowledge of a complete new means.
Cohen mentioned he units very lofty objectives for himself yearly, aiming larger than might even be practical. “My mindset is I all the time need to enhance yearly. And that is the attractive factor relating to this enterprise – nobody can cap your potential.”
When the pandemic hit in March, it had been unclear how which will have an effect on housing, and lenders required to modify to continually altering guidelines and pointers. However Cohen mentioned the truth that Assured Price was already doing every thing digitally was a massive benefit when homebuying picked up.
Working exhausting is a key issue to his manufacturing, Cohen mentioned, and his work ethic goes all of the again to his first job as a paper boy at age 12. His need to win at regardless of he does, honed like a aggressive swimmer, been specifically helpful. However at this time, the lengthy hours he logs being accessible for purchasers is simply doable due to his spouse's work taking care of their three young kids, he mentioned.
Trying to subsequent yr, Cohen mentioned he’s optimistic about surpassing this yr's manufacturing. “You may have many individuals sitting of the houses, not spending their funds however saving their cash. In my opinion the spring marketplace is the following and we're nonetheless in the winter months. Individuals are shopping for earlier than they had been even planning on because of charges are extremely low.
“I consider we are going to look again about this time and dream of it sometime,” Cohen mentioned.
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