[Update Aug. 17: The story is updated to include Griffin Funding as the No. 1 company.]
The latest list is out from Inc., spotlighting the 5,000 fastest growing companies in 2017. Given mortgage origination volume is forecasted to be more than $1 trillion this year, it would be surprising if there wasn’t a slew of mortgage finance companies on the list.
The Inc. 5000 list, which is put together each year to showcase the fastest-growing private firms in America, contains some familiar names, and even five-time-repeat names. However, there are also a lot of new mortgage finance names that made the cut this year.
Below is a spotlight of only the top five. Check here for the full list.
One mortgage company significantly outshined the rest of the mortgage companies, coming in at No. 188. The next closest mortgage finance company sat at No.1129. Mortgage Financial Services, a provider of mortgages to homebuyers and operational support to loan officers, was founded in 2007 and brought in $27.4 million in 2016, and this is with only 211 employees. The company’s three-year growth of 2,318% was enough to rank it as the 188th fastest growing company.
The other four companies in the top 5 all ranked around the low 1,000s.
A break down of the top five can be found in the chart below. Some of the names on the list should come as no surprise.
Movement Mortgage, which rounded out the top five, is less than 10 years old and is already making a major imprint on the housing finance market between financing more than $12 billion in residential mortgages and launching a new digital mortgage app all in 2016 alone.
According to the lender’s inaugural Movement Impact Report to stakeholders on its business operations, growth and community investments, it also has big plans for the future. The annual letter stated, “Moving forward into 2017, we commit to taking the next steps toward our vision to finance one out of every 10 homes purchased in America while transforming our industry, culture and communities.”
The Inc. 5000 list credited Movement Mortgage with 316% growth over the last three years and $579.9 million in revenue in 2016. Check below for details on the other top companies.
|Griffin Funding||83||4,473%||$5.2 m|
|Mortgage Financial Services||188||2,318%||$27.4 m|
|Highlands Residential Mortgage||1129||371%||$60.8 m|
|Ruoff Home Mortgage||1210||340%||$74.2 m|
|Equity Prime Mortgage||1272||321%||$62.9 m|
|Movement Mortgage||1295||317%||$579.9 m|