Residential mortgage lenders

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RESIDENTIAL MORTGAGE LENDERS
(Ranked by 1994 total dollar volume)

#1
Norwest Mortgage Inc.
95 Allens Creek Road
Rochester, N.Y. 14618 473-2610

Total Dollar Volume Closed in 1994 ($000): $220,000
Total No. of Mortgages Closed in 1994: NA
Total No. of Mortgages Refinanced in 1994: NA
Average Value of Mortgages Closed in 1994: $75,000
Percent Government-Guaranteed Loans: 65
Percent Fixed-Rate Loans: 95
Percent Adjustable-Rate Loans: 5
Number of Mortgage Loan Officers: 16
Year Founded Locally: 1992
President: Mark Oman
Mortgage Officer(s): Renee Murray

#2
Fleet Mortgage
159 E. Main St.
Rochester, N.Y. 14604 726-8700

Total Dollar Volume Closed in 1994 ($000): 195,386
Total No. of Mortgages Closed in 1994: 2,495
Total No. of Mortgages Refinanced in 1994: NA
Average Value of Mortgages Closed in 1994: 78,000
Percent Government-Guaranteed Loans: 35
Percent Fixed-Rate Loans: 75
Percent Adjustable-Rate Loans: 25
Number of Mortgage Loan Officers: 24
Year Founded Locally: 1985
President: Jerry Baker
Mortgage Officer(s): Gary Johansen

#3
First Federal Savings and Loan
Association of Rochester
1 First Federal Plaza
Rochester, N.Y. 14614 327-4560

Total Dollar Volume Closed in 1994 ($000): 132,263
Total No. of Mortgages Closed in 1994: 1,429
Total No. of Mortgages Refinanced in 1994: 546
Average Value of Mortgages Closed in 1994: 92,556
Percent Government-Guaranteed Loans: 56.3
Percent Fixed-Rate Loans: 55.3
Percent Adjustable-Rate Loans: 44.7
Number of Mortgage Loan Officers: 25
Year Founded Locally: 1935
President: Thomas Borshoff
Mortgage Officer(s): Mark Kunzer

#4
M&T Mortgage Corp.
1820 East Ave.
Rochester, N.Y. 14610 442-0770

Total Dollar Volume Closed in 1994 ($000): 108,300
Total No. of Mortgages Closed in 1994: 1,364
Total No. of Mortgages Refinanced in 1994: 445
Average Value of Mortgages Closed in 1994: 79,413
Percent Government-Guaranteed Loans: 13.5
Percent Fixed-Rate Loans: 88.3
Percent Adjustable-Rate Loans: 11.7
Number of Mortgage Loan Officers: 9
Year Founded Locally: 1987
President: James Beardi
Mortgage Officer(s): William Strunk

#5
Prime Mortgage Corp.
40 Grove St.
Pittsford, N.Y. 14534 383-8390

Total Dollar Volume Closed in 1994 ($000): 85,642(1)
Total No. of Mortgages Closed in 1994: 820
Total No. of Mortgages Refinanced in 1994: NA
Average Value of Mortgages Closed in 1994:104,334
Percent Government-Guaranteed Loans: 3
Percent Fixed-Rate Loans: 65
Percent Adjustable-Rate Loans: 35
Number of Mortgage Loan Officers: 5
Year Founded Locally: 1990
President: Rose Bernstein
Mortgage Officer(s): Michael Wilcox, Karen Cook, Kim Moscov, Dianne Newman, Kathy Green

#6
Spectrum Home Mortgage Corp.
A Division of Marine Midland Mortgage Corp.
120 Corporate Woods
Rochester, N.Y. 14623 292-1220

Total Dollar Volume Closed in 1994 ($000): 74,917
Total No. of Mortgages Closed in 1994: 927
Total No. of Mortgages Refinanced in 1994: 310
Average Value of Mortgages Closed in 1994: 80,882
Percent Government-Guaranteed Loans: 31.58
Percent Fixed-Rate Loans: 84.89
Percent Adjustable-Rate Loans: 15.11
Number of Mortgage Loan Officers: 10
Year Founded Locally: 1985
President: Robert Roth, David Hunter Jr.
Mortgage Officer(s): Randi Spice

#7
Source One Mortgage Services Corp.
1100 Long Pond Road
Rochester, N.Y. 14626 723-8980

Total Dollar Volume Closed in 1994 ($000): 62,793
Total No. of Mortgages Closed in 1994: 796
Total No. of Mortgages Refinanced in 1994: 155
Average Value of Mortgages Closed in 1994: 78,600
Percent Government-Guaranteed Loans: 47
Percent Fixed-Rate Loans: 94.5
Percent Adjustable-Rate Loans: 5.5
Number of Mortgage Loan Officers: 7
Year Founded Locally: 1989
President: James Conrad
Mortgage Officer(s): Donna Waver

#8
Rochester Home Equity Inc.
610 Wilder Building
Rochester, N.Y. 14614 263-4353

Total Dollar Volume Closed in 1994 ($000): 57,000
Total No. of Mortgages Closed in 1994: 550
Total No. of Mortgages Refinanced in 1994: 125
Average Value of Mortgages Closed in 1994: 104,000
Percent Government-Guaranteed Loans: 3
Percent Fixed-Rate Loans: 70
Percent Adjustable-Rate Loans: 20
Number of Mortgage Loan Officers: NA
Year Founded Locally: 1986
President: Jay Gelb
Mortgage Officer(s): Jay Gelb

#9
Greater Funding of New York Inc.
23 North St.
Canandaigua, N.Y. 14424 398-2000

Total Dollar Volume Closed in 1994 ($000): 55,000
Total No. of Mortgages Closed in 1994: 675
Total No. of Mortgages Refinanced in 1994: 200
Average Value of Mortgages Closed in 1994: 81,000
Percent Government-Guaranteed Loans: 40
Percent Fixed-Rate Loans: 80
Percent Adjustable-Rate Loans: 20
Number of Mortgage Loan Officers: 7
Year Founded Locally: 1990
President: James Griffith(2)
Corinne Tepedino, Tom Mastro, Bill Nelkin, Bart Barry, Maggie Mortgage Officer(s): Raymond, Sharon Steck, Robin Nelkin

#10
Chase Manhattan Bank N.A.
1 Chase Square
Rochester, N.Y. 14643 258-7627

Total Dollar Volume Closed in 1994 ($000): 51,500
Total No. of Mortgages Closed in 1994: 577
Total No. of Mortgages Refinanced in 1994: 277
Average Value of Mortgages Closed in 1994: 89,254
Percent Government-Guaranteed Loans: 12
Percent Fixed-Rate Loans: 72
Percent Adjustable-Rate Loans: 28
Number of Mortgage Loan Officers: 7
Year Founded Locally: 1850
President: William Richardson
Mortgage Officer(s): Timothy Leahy

#11
Home Town Funding Inc.
63A Monroe Ave.
Pittsford, N.Y. 14534 385-2370

Total Dollar Volume Closed in 1994 ($000): 51,389
Total No. of Mortgages Closed in 1994: 432
Total No. of Mortgages Refinanced in 1994: 69
Average Value of Mortgages Closed in 1994: 118,957
Percent Government-Guaranteed Loans: 11.6
Percent Fixed-Rate Loans: 73.6
Percent Adjustable-Rate Loans: 26.4
Number of Mortgage Loan Officers: 6
Year Founded Locally: 1985
President: Dolores Frey
Mortgage Officer(s): Lindsey Michaels

#12
American Home Funding Inc.
95 Allens Creek Road
Rochester, N.Y. 14618 256-5800

Total Dollar Volume Closed in 1994 ($000): 49,708
Total No. of Mortgages Closed in 1994: 628
Total No. of Mortgages Refinanced in 1994: 105
Average Value of Mortgages Closed in 1994: 108,000
Percent Government-Guaranteed Loans: 39
Percent Fixed-Rate Loans: 77
Percent Adjustable-Rate Loans: 23
Number of Mortgage Loan Officers: 9
Year Founded Locally: 1831
President: Paul Reid
Mortgage Officer(s): Bill Terwilliger

#13
Sibley Mortgage Corp.
2 State St.
Rochester, N.Y. 14614 232-1620

Total Dollar Volume Closed in 1994 ($000): 43,000
Total No. of Mortgages Closed in 1994: 650
Total No. of Mortgages Refinanced in 1994: 260
Average Value of Mortgages Closed in 1994: 67,000
Percent Government-Guaranteed Loans: 35
Percent Fixed-Rate Loans: 70
Percent Adjustable-Rate Loans: 30
Number of Mortgage Loan Officers: 4
Year Founded Locally: 1955
President: Gregory Samp
Mortgage Officer(s): Gay Greene

#14
First Rochester Mortgage Corp.
1577 W. Ridge Road
Rochester, N.Y. 14615 581-0580

Total Dollar Volume Closed in 1994 ($000): 36,500
Total No. of Mortgages Closed in 1994: 415
Total No. of Mortgages Refinanced in 1994: 80
Average Value of Mortgages Closed in 1994: 88,000
Percent Government-Guaranteed Loans: 2
Percent Fixed-Rate Loans: 78
Percent Adjustable-Rate Loans: 20
Number of Mortgage Loan Officers: 8
Year Founded Locally: 1993
President: Armando Capuano
Mortgage Officer(s): Armando Capuano

#15
Citibank (New York State)
99 Garnsey Road
Pittsford, N.Y. 14534 383-5200

Total Dollar Volume Closed in 1994 ($000): 35,700
Total No. of Mortgages Closed in 1994: 380
Total No. of Mortgages Refinanced in 1994: 76
Average Value of Mortgages Closed in 1994: 93,000
Percent Government-Guaranteed Loans: 0
Percent Fixed-Rate Loans: 90
Percent Adjustable-Rate Loans: 10
Number of Mortgage Loan Officers: 17
Year Founded Locally: 1972
President: Frederick Kulikowski
Mortgage Officer(s): John Langer

#16
First Residential Lending Corp.
150 Allens Creek Road
Rochester, N.Y. 14618 242-0500

Total Dollar Volume Closed in 1994 ($000): 35,402(1)
Total No. of Mortgages Closed in 1994: 326
Total No. of Mortgages Refinanced in 1994: 102
Average Value of Mortgages Closed in 1994: 108,595
Percent Government-Guaranteed Loans: 0
Percent Fixed-Rate Loans: 67
Percent Adjustable-Rate Loans: 33
Number of Mortgage Loan Officers: 2
Year Founded Locally: 1993
President: Linda Trendy
Mortgage Officer(s): Bruce Deling

#17
Capital Mortgage Network Inc.
3159 S. Winton Road
Rochester, N.Y. 14623 292-5650

Total Dollar Volume Closed in 1994 ($000): 34,324
Total No. of Mortgages Closed in 1994: 394
Total No. of Mortgages Refinanced in 1994: 236
Average Value of Mortgages Closed in 1994: 87,000
Percent Government-Guaranteed Loans: 10
Percent Fixed-Rate Loans: 52
Percent Adjustable-Rate Loans: 48
Number of Mortgage Loan Officers: 8
Year Founded Locally: 1992
President: Debra Ann Gilliatt-Marzolf
Mortgage Officer(s): Sharon Albano

#18
Ambassador Group of N.Y. Inc.
Suite 312
3300 Monroe Ave.
Rochester, N.Y. 14618 385-4700

Total Dollar Volume Closed in 1994 ($000): 29,500
Total No. of Mortgages Closed in 1994: 320
Total No. of Mortgages Refinanced in 1994: NA
Average Value of Mortgages Closed in 1994: 86,000
Percent Government-Guaranteed Loans: NA
Percent Fixed-Rate Loans: 90
Percent Adjustable-Rate Loans: 10
Number of Mortgage Loan Officers: 10
Year Founded Locally: 1990
President: Joan Powell
Mortgage Officer(s): Anne Levin

#19
NVR Mortgage Finance Inc.
2000 S. Winton Road
Rochester, N.Y. 14618 272-1360

Total Dollar Volume Closed in 1994 ($000): 28,000
Total No. of Mortgages Closed in 1994: 354
Total No. of Mortgages Refinanced in 1994: 75
Average Value of Mortgages Closed in 1994: 80,000
Percent Government-Guaranteed Loans: 50
Percent Fixed-Rate Loans: 60
Percent Adjustable-Rate Loans: 40
Number of Mortgage Loan Officers: 5
Year Founded Locally: 1969
President: William Inman
Mortgage Officer(s): NA

#20
RGP Funding Inc.
1548 Buffalo Road
Rochester, N.Y. 14624 247-0980

Total Dollar Volume Closed in 1994 ($000): 21,000(1)
Total No. of Mortgages Closed in 1994: 260
Total No. of Mortgages Refinanced in 1994: NA
Average Value of Mortgages Closed in 1994: 80,175
Percent Government-Guaranteed Loans: 0
Percent Fixed-Rate Loans: 85
Percent Adjustable-Rate Loans: 15
Number of Mortgage Loan Officers: 4
Year Founded Locally: 1986
President: Roger Pimm
Mortgage Officer(s): Roger Pimm, Larry Wills, Pat Cordon, Robert Schaffon

#21
Main Street Funding Ltd.
4 Tobey Village Office Park
Pittsford, N.Y. 14534 383-0480

Total Dollar Volume Closed in 1994 ($000): 20,000(1)
Total No. of Mortgages Closed in 1994: 174
Total No. of Mortgages Refinanced in 1994: 46
Average Value of Mortgages Closed in 1994: 115,000
Percent Government-Guaranteed Loans: 0
Percent Fixed-Rate Loans: 60
Percent Adjustable-Rate Loans: 40
Number of Mortgage Loan Officers: 2
Year Founded Locally: 1988
President: Michael DerCola
Mortgage Officer(s): Antonio Fernandez

#22
Pittsford Federal Credit Union
20 Tobey Village Road
Pittsford, N.Y. 14534 381-1622

Total Dollar Volume Closed in 1994 ($000): 14,933
Total No. of Mortgages Closed in 1994: 236
Total No. of Mortgages Refinanced in 1994: 56
Average Value of Mortgages Closed in 1994: 116,283
Percent Government-Guaranteed Loans: 0
Percent Fixed-Rate Loans: 18
Percent Adjustable-Rate Loans: 82
Number of Mortgage Loan Officers: 2
Year Founded Locally: 1969
President: John Manyan
Mortgage Officer(s): Mark Randall, William Martin

#23
Rochester Ukrainian Federal Credit Union
824 E. Ridge Road
Rochester, N.Y. 14621 544-9518

Total Dollar Volume Closed in 1994 ($000): 4,700
Total No. of Mortgages Closed in 1994: 68
Total No. of Mortgages Refinanced in 1994: NA
Average Value of Mortgages Closed in 1994: 69,000
Percent Government-Guaranteed Loans: 3
Percent Fixed-Rate Loans: 85
Percent Adjustable-Rate Loans: 15
Number of Mortgage Loan Officers: 1
Year Founded Locally: 1953
President: Myron Babiuk
Mortgage Officer(s): Valentina Demorest

#24
Wegmans Federal Credit Union
2599 E. Henrietta Road
Rochester, N.Y. 14623 359-8840

Total Dollar Volume Closed in 1994 ($000): 4,373
Total No. of Mortgages Closed in 1994: 52
Total No. of Mortgages Refinanced in 1994: NA
Average Value of Mortgages Closed in 1994: 89,249
Percent Government-Guaranteed Loans: NA
Percent Fixed-Rate Loans: 99
Percent Adjustable-Rate Loans: 1
Number of Mortgage Loan Officers: 3
Year Founded Locally: 1985
President: David Beckhorn
Mortgage Officer(s): Susan Lynch

#25
Penfield Federal Credit Union
2070 Five Mile Line Road
Penfield, N.Y. 14526 586-8225

Total Dollar Volume Closed in 1994 ($000): 4,296
Total No. of Mortgages Closed in 1994: 51
Total No. of Mortgages Refinanced in 1994: 34
Average Value of Mortgages Closed in 1994: 131,110
Percent Government-Guaranteed Loans: NA
Percent Fixed-Rate Loans: 99
Percent Adjustable-Rate Loans: 1
Number of Mortgage Loan Officers: 2
Year Founded Locally: 1969
President: Leonard Sziniloski
Mortgage Officer(s): Rosanne Davie

Notes: Information was provided by individual mortgage lenders that responded to a mail and telephone survey by April 24 and provided total 1994 dollar volume of closed mortgages. The survey contacted mortgage lenders in Monroe, Genesee, Livingston, Ontario, Orleans and Wayne counties. The list includes lenders that give first mortgages and had a minimum 1994 dollar volume of $4.2 million in closed mortgages in the six-county area. All organizations listed are registered mortgage lenders, unless otherwise specified.
(1)Company is a registered mortgage broker.
(2)James Griffith is senior vice president; Cynthia Hamilton is manager/ officer.
NA-Not available
Researched by Nathalie Gabirout, Susan Moyer and Ann Valls

[Rochester Business Journal List, 5/5/95]