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Dallas-Based Team Increases Profitability 35%

The Cooksey Team, a Dallas-based retail branch of Mid America Mortgage Inc., has achieved year-over-year growth in volume and profitability for the sixth year running. In 2018, The branch increased overall volume by 27 percent compared with 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, according to the company.

“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 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 loan originators are reaping the benefits.”

More than 80 percent of Cooksey Team loan originators increased their production in 2018, with some achieving as much as 100 percent growth compared with 2017. In addition, several loan officers have achieved top-tier status in their respective markets, including Wesley Ryan Grubbs, Brandon Findley and Darren Lovell.

“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.”

 

 

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