Shant Banosian on another record-setting year

This week, HousingWire’s editor-in-chief Sarah Wheeler interviews Guaranteed Rate’s top-ranked loan officer, Shant Banosian, who recently announced another record-setting year.

Banosian explains how he topped 2020’s $1.7 billion in volume by funding more than $2 billion in total origination volume for 2021 and also shares insights into next year’s purchase market.

According to Banosian, as home prices climb and inventory dwindles, consumers will be more likely to utilize their home equity — whether or not rates rise in 2022.

Here is a small preview of the interview, which has been lightly edited for length and clarity:

Sarah Wheeler: Over the course of your career, you and your team have funded more than $7 billion in loans, which is just extraordinary. So, when you were setting goals for 2021, having already reached $1 billion in 2020, was $2 billion the target?

Shant Banosian: Yes, it definitely was. Last year, we funded, $1.7 billion. We had a really great 2021. However, based on the momentum of the year, the market environment with both purchases and refinances going strong, we set a $2 billion target, and I believe we’re going to end the year at about $2.2 billion when it’s all said and done. So, we eclipsed last year’s number by about $500 million. You know, it was definitely a massive effort. I’m really proud of what we accomplished.

The Housing News podcast explores the most important topics happening in mortgage, real estate, and fintech. Each week a new mortgage or real estate executive joins the show to add perspective to the top stories crossing HousingWire’s news desk. Hosted by Sarah Wheeler and produced by Alcynna Lloyd.