Scotsman Guide > Rankings > Top Originators 2012 > Joe Caltabiano #4 Top Dollar Volum

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Top Originators 2012: #4: 2012 Top Dollar Volume


Joe Caltabiano, Guaranteed Rate
#4: 2012 Top Dollar Volume
Closed-Loans Rank: #7
> 2011-2012 Change: #4


After a banner year in 2012, Guaranteed Rate’s Joe Caltabiano is looking forward to 2013 with confidence.

This past year, Caltabiano closed more than $310 million in total volume, ranking him fourth on the Top Dollar Volume list. Although he admits that low rates were a big factor in increasing his volume by more than 70 percent from 2011, this wasn’t the only driver. Recovery in the purchase market apparently has gained traction. “The purchase market continued to improve in our market, especially toward the third and fourth quarters of last year,” he says.

Caltabiano’s eyes are, as they have always been, on the purchase market. “I never marketed toward refinances. I only marketed toward purchase business. That has been what grew my business over the years,” he says.

For him, refinances aren’t going away. After closing $226 million in refinance loans this past year, Caltabiano expects the rush to continue and comprise at least 50 percent of his volume this year.

“There potentially will be another government relief program rolled out, in addition to people who couldn’t refinance previously because of being underwater and not qualifying for the government programs. As property values are increasing, they will be able to refinance now,” he says.

He also expects his niches, particularly in the jumbo market, to strengthen. “Jumbo lending will continue to expand. The spread between jumbo rates and conforming rates will thin out, and you will see a very competitive jumbo product,” he adds.

Any concerns about 2013? Caltabiano says, “No. The market will thrive.”

--Rania Oteify

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