DALLAS, Texas, Jan 10, 2019 (SEND2PRESS NEWSWIRE) -- The Cooksey Team, a top-producing retail branch of Mid America Mortgage, Inc., announced today it has achieved year-over-year growth in volume and profitability for the sixth year running. In 2018, The Cooksey Team increased its overall volume by 27 percent over the previous year and increased the number of loan units closed by 28 percent. In addition, the branch decreased its cost to originate by 14 percent, resulting in a 35 percent increase in branch profitability.
"At a time when volumes are down and the cost to originate is up, we've been able to buck industry trends, and that's due in large part to Mid America's commitment to utilizing technology to make our operations more efficient," said Michael Cooksey, founder of The Cooksey Team. "With the adoption of our eClosing process and top-notch CRM system, as well as utilizing Fannie Mae's Day 1 Certainty program, Mid America has modernized its operations, and our LOs are reaping the benefits."
More than 80 percent of Cooksey Team loan originators (LOs) increased their production in 2018, with some achieving as much as 100 percent growth over 2017. In addition, several LOs have achieved top-tier status in their respective markets, including Wesley Ryan Grubbs, Brandon Findley and Darren Lovell, and The Cooksey Team was honored by the Dallas Business Journal as one of North Texas's "Best Places to Work" for the second consecutive year.
"When you have the proper technology and resources in place, along with support from the executive level down, it is possible to thrive in a down market," Cooksey said. "LO and branch success has always been a top priority at Mid America, and not only has the firm's investment in the tools and support paid off tremendously this year, but we expect to see that success continue into 2019 as we look to bring on more top-tier talent."
As the head of Mid America's most successful branch, Cooksey will be leading the firm's branch and LO recruitment efforts in 2019. Loan originators and branches interested in joining Mid America Mortgage should contact Cooksey directly at (972) 767-5701.
About The Cooksey Team:
Headquartered in Dallas, The Cooksey Team is a top performing retail branch of Texas-based lender Mid America Mortgage and has offices located throughout the North Texas and Los Angeles County areas.
With 16 years in the industry and six years with Mid America, Cooksey Team Founder Michael Cooksey brings the experience and knowledge needed to lead a successful mortgage transaction. Utilizing The CORE Training methodology, Michael has coached his own staff, as well as loan officers, brokers and real estate agents across the country, to become top producers. The Cooksey Team loan officers average six closings per month and $250,000 in annual income. In addition, the branch has increased its annual origination volume by nearly 50 percent year-over-year and is projected to achieve $350 million in volume in 2018. For more information on The Cooksey Team, visit https://www.cookseybranch.com/.
About Mid America Mortgage, Inc.:
Mid America Mortgage, Inc., Addison, Texas, is a multi-state, full-service mortgage lender serving consumers and mortgage originators through its retail, wholesale and correspondent channels. In operation since 1940, Mid America has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes. The company offers a wide range of residential home loan programs to meet the needs of most home buyers and homeowners and are also the nation's leading provider of Section 184 home loans for Native Americans. Learn more at https://www.midamericamortgage.com/.
Mid America is looking for tech-savvy, service-oriented mortgage professionals to join its growing team. We are dedicated to providing our employees with industry-leading tools and technology to deliver a great package of competitive pricing, programs and knowledgeable service. Want to join our team? Visit http://www.midamericamortgage.com/careers/.
Twitter: @midamericamtge @TheCookseyTeam
News Source: Mid America Mortgage, Inc.
Related link: https://www.midamericamortgage.com/
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/the-cooksey-team-achieves-35-percent-increase-in-profitability-in-2018-despite-overall-mortgage-market-decline/