Industry NewsMortgage

Real estate boom fills mortgage lenders’ coffers

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Editor's note: As the real estate boom soars to new levels, pumping money through the industry like blood through a runner's arteries, real estate agents, title companies, mortgage brokers, lenders and homeowners alike are prospering. In this three-part series, Inman News explores the real estate windfall, digging to find who's making tons of money in this heated  market. (See Part 1: Real estate agents reap housing boom harvest and Part 3: Real estate boom pumps up title insurance.) In 2004, Johnny Vlogianitis, a Wells Fargo Home Mortgage retail sales supervisor, generated a jaw-dropping $170 million in loans. This year, he expects to generate more than $200 million, thanks in large part to the real estate boom. "After the first quarter of 2005, I'm already past $125 million," said Vlogianitis, who is retail sales supervisor for Wells Fargo Home Mortgage in Garden City, N.Y. "The boom has caused loan production to soar," said the fast-talking New Yorker, who spits out num...