Press

A Decade of Distinction: How Insignia Mortgage Became a Top Originator Powerhouse 

victoria chuidian
May 7, 2025

In the dynamic world of real estate finance, consistency and performance aren’t just admirable—they’re essential. For over a decade, Insignia Mortgage has exemplified both, earning top-tier recognition on the Scotsman Guide’s Top Originators list every single year. In 2025, the tradition continues—with multiple Insignia originators securing elite national rankings across categories. 

Why the Scotsman Guide Matters 

Since 2010, the Scotsman Guide has served as the industry standard for mortgage originator rankings. These rankings are based on verified loan volume and production metrics across key categories like Non-QM lending, brokered loans, and refinances. Earning a place on this list isn’t just a badge of honor—it’s a signal to real estate professionals that they’re working with the best in the business. 

Insignia’s 2025 Highlights: A National Benchmark 

This year, Chris Furie and Damon Germanides, co-founders of Insignia Mortgage, once again achieved standout rankings: 

Chris Furie: 

  • #8 – Top Mortgage Brokers 
  • #4 – Top Non-QM Originators 

#32 – Top Refinance Originators 

Damon Germanides: 

  • #9 – Top Mortgage Brokers 
  • #5 – Top Non-QM Originators 
  • #18 – Top Refinance Originators 

The rest of the Insignia Mortgage team are also prominently featured: 

  • Romy Nourafchan: #29 Top Broker, #139 Top Refinance, #153 Top HELOC 
  • Neil Patel: #53 Top Broker, #22 Top Non-QM Originator 
  • Scott Sealey: Ranked #235 among Top Brokers nationally, first year on the Top Originator List  

This level of performance is rare and reflects a commitment to excellence, creativity, and an unrivaled understanding of the residential mortgage market. 

Founders Who Lead by Example 

Insignia Mortgage is more than a company—it’s the result of decades of leadership, vision, and resilience. 

  • Chris Furie, with over 35 years of experience, has built a reputation as one of the most knowledgeable and trusted professionals in Southern California real estate finance. His work has helped redefine what it means to deliver concierge-level mortgage advisory services for affluent and complex borrowers. 
  • Damon Germanides, now in his 21st year in the business, has distinguished himself through his expertise in structuring customized Non-QM and jumbo mortgage solutions. His focus on precision, transparency, and long-term relationships makes him a favorite among investors and financial advisors alike. 

The Insignia Advantage 

What sets Insignia Mortgage apart is its deep bench of talent and its boutique-style approach to client service. The firm specializes in: 

  • Non-QM and jumbo loan solutions for complex borrower profiles 
  • Tailored loan structures for self-employed, high-net-worth individuals 
  • Fast, reliable closings backed by deep lender relationships 
  • A high-touch, consultative experience from application to funding 

As independent mortgage brokers, the Insignia team isn’t tied to any single lender or underwriting standard. That flexibility translates into more options—and better outcomes—for clients navigating competitive real estate markets. 

Trusted by Investors, Realtors, and Financial Advisors 

Real estate investors, luxury agents, and high-end developers repeatedly turn to Insignia for one reason: results. The firm’s ability to structure loans that other providers can’t—or won’t—consider makes it a powerful strategic partner in today’s market. 

Whether financing a multi-unit property, leveraging a portfolio of assets, or optimizing tax strategies through mortgage structuring, Insignia brings clarity and confidence to every deal. 

A Legacy Still in the Making… Let’s Grow Together.  

Being named to the Scotsman Guide Top Originators list for over ten consecutive years is a reflection of talent, trust, and tireless dedication. But at Insignia Mortgage, the team isn’t resting on past achievements—they’re raising the bar, year after year. 

For investors, agents, and borrowers seeking elite mortgage solutions, Insignia Mortgage remains the gold standard. 

Interested in working with one of the nation’s top-ranked mortgage teams? 

Contact Insignia Mortgage to schedule a confidential consultation. 

References 

Scotsman Guide. (2025). Top Originators 2025 Rankings. Retrieved from https://www.scotsmanguide.com/rankings/top-originators/ 

Press

Scott Sealey Ranks In Scotsman Guide

damon Damon Germanides
April 22, 2025

At Insignia Mortgage, we pride ourselves on delivering exceptional service and expertise in every transaction—and that commitment is exemplified by our own Scott Sealey. Insignia Mortgage has ranked on Scotsman Guide’s Top Originators list for the past decade, and we’re so pleased to celebrate Scott’s inaugural success this 2025 as a Top Mortgage Broker.

With over 30 years of experience in the mortgage industry, Scott has built a reputation for solving even the most complex loan scenarios. His journey began in 1992 as a loan officer at Great Western Bank, and since then, he has remained dedicated to helping clients—regardless of the size or scope of the loan.

In 2024, Scott’s consistent performance and client-first approach earned him recognition in the Scotsman Guide, where he was honored for closing over $30 million in loans. It’s a testament to his deep industry knowledge, strategic thinking, and, most importantly, his ability to communicate clearly with clients, referral partners, and investors alike.

Scott’s success reflects the values we uphold at Insignia Mortgage: personalized service, expert guidance, and a relentless drive to deliver results. We’re proud to have him on our team and look forward to seeing what he accomplishes next.

Market Trends

Market Commentary 04/11/2025

damon Damon Germanides
April 11, 2025

Tariffs, Volatility & Mortgage Market Whiplash

The Trump administration’s aggressive tariff announcements sent global equity and bond markets into a tailspin, driving the CNN Fear & Greed Index down to a 4. We are now at levels not seen since the Great Financial Crisis or the shock of COVID. While the current backdrop may not be as severe, investor panic is evident. Since World War II, global growth has relied on comparative economics — countries focusing on what they produce best and trading for the rest. But persistent U.S. trade deficits have led this administration to push for a more level playing field, targeting tariffs and VAT-related pricing disadvantages overseas. The scale of the proposals, however, rattled bond markets and led to a temporary pullback in policy.

Mortgage rates dipped briefly as the 10-year Treasury yield touched below 4%, but that rally was short-lived. The reversal wasn’t driven by inflation data — CPI and PPI came in cooler than expected — but rather by fears of tariff-induced inflation. Manufacturers are now in a bind and consumer confidence is weakening, which makes passing on higher input costs difficult. As a result, we face potential margin compression, weaker earnings, and continued market volatility.

One bright spot for consumers: oil has dropped below $60/barrel, easing some cost-of-living pressures. And while equity markets have pulled back roughly 10% from recent highs, this correction may be a healthy repricing after an extended period of overvaluation.

In the housing market, expect:

  • Price adjustments as buyers grow more cautious
  • Cash-out refinances by self-employed borrowers seeking liquidity
  • Tighter underwriting as lenders brace for inflation, recession risk, and asset repricing
  • More loan applications moving to the non-QM or private credit space due to tightened credit box by big banks (bank statement loans, no-income verification loans, DSCR loans, bridge loans).

On the interest rate front, Wall Street is split — from zero to four cuts forecasted this year. Based on borrower sentiment and softening labor trends, we believe the Fed may deliver 1–2 rate cuts. Consumers are watching their wallets, and business owners are becoming more defensive.

If the Fed does ease later this year, it could bring much-needed relief to mortgage rates — a welcomed boost for the housing sector.

Market Trends

Market Commentary 04/04/2025

damon Damon Germanides
April 4, 2025

Tariffs Overshadow Strong Jobs Report

Mortgage Rates Fall As Economic Fears Rise

A better-than-expected March jobs report took a back seat to the volatile market response following the latest tariff announcements. Equity markets are experiencing heightened volatility as strategists attempt to assess how U.S. tariffs—and retaliatory measures—will unfold in the coming weeks. One big potential consequence of a trade war is triggering a global recession. There is growing concern that a trade war could lead to stagflation—a slowing economy paired with rising costs.

It remains unclear whether the goal of the tariffs is to bring other nations to the negotiating table for improved trade agreements with the U.S. or if they represent a more permanent shift in trade policy. We hope for the former and that these tariffs serve as leverage to secure better trade deals, ultimately benefiting U.S. trade relationships.

High Volatility

The market’s current anxiety is best exemplified by the VIX above 40 and CNN’s Fear & Greed Index at a reading of 4, which is an extreme fear level. While it’s uncertain whether last week’s developments fully justify this level of negativity, there is a sense that automated trading is amplifying market swings. Wall Street has a reputation for punishing retail investors during periods of heightened volatility.

A look at the 2-year Treasury note suggests the market is pricing in upcoming Fed rate cuts. Despite the Fed Chair downplaying this possibility, the probability of cuts appears to be rising. Long-term inflation expectations are also falling. Significant equity losses and weakening consumer confidence weigh heavy on sentiment. We expect inflation to decline rapidly, driven by reduced government spending and a shift in consumer behavior following major wealth erosion. Lower interest rates are likely to follow.

Positive Outlook for Residential Mortgage Rates

Mortgage rates are improving across the board, benefiting from equity market volatility as banks reprice downward. Many loan products are now offering rates below 5%, which should enhance affordability for homebuyers and incentivize refinancing, particularly for cash-out borrowers. Sellers may also be more willing to reduce home prices amid recession concerns, a desire to raise cash, or a need to lower housing expenses.

Caution for Commercial Real Estate

Unlike the residential market, commercial real estate may not see the same relief. Widening spreads—particularly in high-yield markets—are concerning and should be closely monitored. Riskier segments of the commercial real estate market may face higher borrowing costs and diminished investor appetite if spreads continue to widen and delinquencies rise.

Market Trends

Market Commentary 03/21/2025

damon Damon Germanides
March 21, 2025

Market Recap & Key Economic Indicators

Stocks ended the week in positive territory after another period of volatility. The Federal Reserve maintained its stance on interest rates, opting for a “wait and see” approach instead of initiating rate cuts. Key takeaways from the Fed’s latest commentary suggest that the economy remains stable, with a slight expected increase in unemployment—though not significant enough to justify a major policy shift. The Fed continues to project positive GDP growth for the year.

One area of concern was the Fed’s discussion on tariffs and their inflationary impact. While tariffs may introduce one-time cost increases for certain goods, it’s worth noting that imports account for approximately 15% of the total U.S. GDP. As a result, the overall impact on inflation may be less severe than some forecasts suggest. That said, tariff uncertainties continue to create market disruptions, though the broader U.S. economy may absorb these effects more constructively than many anticipate.

Oil, Bonds, and Interest Rates

The ceasefire between Ukraine and Russia and its potential to resolve the conflict threatens to put downward pressure on oil prices. Historically, bond yields and oil prices have moved in tandem, meaning that a decline in oil could contribute to lower interest rates. With oil as a fundamental input cost across multiple industries, any drop in energy prices would also help temper inflationary pressures.

Breakdown of U.S. Treasury Debt: The composition of outstanding U.S. Treasury debt is as follows:

  • $6.4 trillion in Treasury bills (maturing in one year or less)
  • $14.7 trillion in Treasury notes (maturing in 2-10 years)
  • $4.9 trillion in Treasury bonds (20- and 30-year maturities)
  • $2.0 trillion in Treasury Inflation-Protected Securities (TIPS)
  • $0.63 trillion in Floating Rate Notes (FRNs)

With a significant portion of this debt rolling over from historically low interest rates, concerns around the U.S. interest expense and rising deficit spending are intensifying. Many economists and bond traders believe the nation is approaching a tipping point, where ongoing deficit growth and increasing debt-servicing costs may become unsustainable.

Housing Market & Economic Indicators to Watch

February’s existing home sales came in stronger than expected, a positive sign for those operating in the existing home sales market. After nearly two years of muted activity, there are early indications that homebuyers may be gradually returning. While better home sales support a strong economy, other signals suggest the economy is slowing. Mixed signals make forecasting difficult.

Given the uncertain economic environment, we are closely monitoring the following key indicators to assess the direction of interest rates and overall market conditions:

  1. Oil prices – A leading indicator of inflationary pressures
  2. 2-year vs. 10-year Treasury yield spread – A key gauge of economic sentiment and recession risk
  3. Weekly unemployment claims – A real-time measure of labor market health
  4. Automobile loan delinquencies – A potential warning sign of consumer financial stress
  5. Housing starts – A crucial indicator of real estate market momentum

All eyes now turn to next week’s CPI and PPI prints. For residential real estate to regain momentum, the market will need a catalyst—either lower prices or lower interest rates. Stay tuned and make sure you’re subscribed to Insignia Mortgage’s Market Commentary for the latest updates and rates.

These are the opinions of the author. For financial advice, please talk to your CPA or financial professional.

Market Trends

Market Commentary 03/14/2025

damon Damon Germanides
March 14, 2025

Economy, Tariffs, & Interest Rates

U.S. equities saw heightened volatility this week, with the S&P briefly entering correction territory before rebounding strongly. Bonds rose on Friday and ended the week higher, suggesting that market fears may have been exaggerated. Moreover, the uncertainty surrounding tariff negotiations continues to burden investors. While some evidence suggests the U.S. economy can perform well amidst higher tariffs, most economists warn of restricted growth and inflationary pressures. However, some financial experts argue that pro-growth policies, deregulation, and AI-driven productivity gains could offset these costs, contributing to market volatility.

Consumer confidence declined more than expected, driven by high living costs and tariff uncertainty. While business confidence remains elevated, there are growing concerns that the economy is slowing. Furthermore, uncertainty surrounding tariff negotiations continues to weigh on investors. Business travel is slowing, with mixed reports from public companies suggesting increased uncertainty and consumer distress.

Recession fears have intensified as banks lower year-end forecasts for the S&P. While this could lead to lower interest rates over time, government spending reductions may create short-term economic challenges. A market reset could help bring home prices down, providing relief for buyers currently priced out of homeownership. However, commercial real estate could face renewed pressure as banks tighten lending and push borrowers to refinance or pay down loans. Many properties have seen equity eroded or wiped out, fueling demand for private bridge and mezzanine lending as large funds raise capital to fill financing gaps.

Market Trends

Market Commentary 03/07/2025

damon Damon Germanides
March 7, 2025

Uncertain Economic Data Pushes Mortgage Rates Lower

Markets remain volatile as concerns over economic slowdown and tariff uncertainties weigh on equities. The Nasdaq has been hit particularly hard, with many high-profile tech stocks trading lower. The rotation out of technology has significantly impacted stocks like Tesla, which has sharply declined. However, Tesla is not alone—many high-beta AI and technology stocks are undergoing a pricing adjustment. Given that the “Magnificent 7” were the primary drivers of equity appreciation over the past two years, their decline could substantially impact broader markets and consumer spending should they fall further.

The February Jobs Report indicated a slight slowdown in hiring amid rising economic uncertainty and government layoffs. Bond traders viewed the report as modestly positive, with the unemployment rate ticking up and earnings growth easing,

The Atlanta Fed’s GDP Now model projects a -2.4% slowdown, signaling potential economic contraction. In recent years, government and healthcare jobs have driven employment growth, but these sectors do not necessarily contribute to GDP expansion like private sector job creation does. As post-COVID recovery stabilizes and government stimulus fades, the likelihood of an economic downturn increases. While business confidence remains high, consumer concerns over the cost of living persist. Additionally, weak housing data is troubling, as home sales are a key driver of economic growth, supporting jobs and consumer spending.

The elevated uncertainty has pushed bond yields lower across the market, with the 10-year Treasury (the benchmark for most real estate loans) declining significantly. This has resulted in more favorable mortgage rates. Banks and credit unions continue to offer competitive pricing on both residential and commercial loans, except for office properties, which remain a challenging sector for lenders. Abundant private credit is also pushing bridge and other types of more temporary financing rates lower as competition for better quality deals heats up.

Market Trends

Market Commentary 02/28/25

damon Damon Germanides
February 28, 2025

Market Update: Interest Rates Decline Amid Rising Volatility

Interest rates continued to fall this week as market volatility increased. Equities, including Tesla and Palantir, experienced significant sell-offs, driving investors toward a risk-off environment that favored bonds. Additionally, growing concerns over a slowing economy contributed to the downward movement in yields.

Key Economic Data & Market Indicators

This week’s economic data highlighted a sharp decline in housing sales—an expected outcome given high home prices and elevated borrowing costs. Weekly unemployment claims also saw a notable increase, signaling potential softening in the labor market. Meanwhile, the Personal Consumption Expenditures (PCE) index, the Federal Reserve’s preferred inflation gauge, aligned with expectations, providing a supportive reading for bond yields.

The Trump administration, through the Department of Government Efficiency, has introduced cost-cutting measures, including job reductions. While bond markets have responded positively in the short term, extended job cuts could weigh on economic growth.

Adding to economic uncertainty are ongoing tariff threats, which could disrupt global trade. The yield curve remains exceptionally flat, with portions re-inverting—historically a warning sign of recession. Many traders are closely monitoring these signals for potential market shifts.

Consumer Spending: Who’s Driving Growth?

Recent reports indicate that the wealthiest 20% of U.S. households are fueling most of the country’s consumer spending and economic growth. This trend is unsurprising, given that high home and equity values—paired with savings yields of 4% to 5%—have largely shielded this group from inflationary pressures.

However, many Americans continue to struggle with rising costs, as cumulative inflation has pushed prices up nearly 23% over the past few years. A key risk to spending remains equity market performance—if stocks correct significantly, even affluent consumers may reduce discretionary purchases. Bitcoin’s recent drop from $107,000 to $84,000—a 21% decline—underscores the volatility in high-risk assets. A broader sell-off across equities and alternative investments could further dampen consumer spending.

Mortgage Rates & Lending Conditions

One bright spot in the current market is the continued decline in mortgage rates, improving affordability for both residential and commercial borrowers.

• Residential Mortgages: Some banks are now offering rates below 6%, with highly qualified borrowers securing loans under 5.5% through relationship pricing.

• Commercial Loans (Sub-$15M): Banks and credit unions are pricing multi-family, retail, and owner-user loans below 6%.

• No-Income Verification Loans: Currently in the mid-6% range for loans up to $5 million.

Bridge Financing Becomes More Competitive

• Professional Developers (Renovation Loans): Leverage-based loans available at 7.99%.

• Bridge & Value-Add Multi-Family Loans: Rates range from 7.99% to 9.50%, depending on loan size and unit count.

Lower borrowing costs should help stimulate both home sales and refinancing activity, particularly if yields continue their downward trajectory.

As economic uncertainty lingers, all eyes remain on interest rates, inflation data, and equity market trends—factors that will shape investment decisions and financial markets in the months ahead. Subscribe to our weekly market commentary to stay up to date. 

Market Trends

Market Commentary 02/21/2025

damon Damon Germanides
February 23, 2025

Persistent Inflation and Weak Economic Data Rattle Equity Markets

This week, weaker-than-expected economic data, tariff uncertainty, and a rise in consumer inflation expectations pummeled stocks. In addition, consumer sentiment fell short of forecasts. It’s important to remember that confidence is the cheapest form of economic stimulus. As we have written for over two years, persistently high living costs and elevated housing expenses are wearing down everyday Americans.

The general public isn’t reassured by inflation returning to 2%. Cumulatively, prices have risen above 20%, while wages have yet to catch up. Consumer dollars simply aren’t stretching as far as they once did. A particularly worrisome signal comes from Walmart’s disappointing financial results, despite the retailer’s history of benefiting from consumers seeking better value. Some analysts speculate this could be a sign that consumers are nearing their breaking point, as inflation continues to erode spending power.

Bond yields responded as expected, with interest rates moving significantly lower later in the week. Treasury officials clarified their stance on issuing longer-dated bonds, easing pressure on the 10-year Treasury yield. Since most financial debt instruments—including mortgages, commercial loans, and auto loans—are priced off the 5-, 7-, and 10-year Treasury yields, this decline is a welcome development. With the 10-year Treasury below 4.50%, we anticipate mortgage rates to decline in the coming week. 

As for the Fed, they remain in a wait-and-see mode. Recent inflation data suggests they may have acted too soon and too aggressively with their initial 50-basis-point rate cut. While short-term interest rates remain restrictive, they may not be restrictive enough to cool inflation. With markets holding up reasonably well, the Fed finds itself in a challenging position with both inflation and inflation expectations rising. The likelihood of additional rate cuts appears remote. If inflation data continues to come in hotter than expected, expect discussions around the potential need for a rate hike.

Market Trends

Market Commentary 02/07/2025

damon Damon Germanides
February 7, 2025

Fed Remains On Pause Due To Jobs Report

Consumer Sentiment & Jobs Report

U.S. consumer sentiment declined as concerns over tariffs and the already high cost of living dampened confidence. The January Jobs Report indicated a slowing yet resilient labor market, with unemployment moving to 4%. Wage growth accelerated, contributing to higher bond yields, as rising wages put further pressure on inflation. Given persistent inflation concerns and a solid jobs report, the Fed will likely remain on hold for the foreseeable future.

As we’ve noted before, inflation doesn’t simply disappear. Once prices rise, they rarely decline, requiring wages to grow gradually over time to offset higher costs. However, the post-COVID inflation surge has created “sticky inflation,” the cumulative rise in the cost of goods and services will take years for incomes to catch up. This presents a key challenge for the Fed, reinforcing the likelihood of interest rates staying higher for longer.

Treasury & Interest Rate Outlook

Treasury Secretary Bessent signaled a focus on lowering long-term Treasury yields, particularly the 10-year, currently at 4.6%, rather than reducing short-term rates. However, the term premium between short- and long-term rates is already tight, limiting flexibility unless an inverted yield curve is the goal. His strategy appears to hinge on deficit reduction, energy cost management, and economic growth to bring long-term rates down, which could lead to lower short-term rates.

From our perspective, interest rates are not unreasonably high, given the current 3% GDP growth and 3% inflation environment. The bigger issue remains government spending, which likely contains far more inefficiencies than initially assumed. If spending is significantly reduced, bond yields could fall sharply. The effectiveness of this approach remains to be seen.