Faced with declining originations, several mortgage brokers have recently sought the relative security of a national net branch company.
Allied Home Mortgage Capital Corp. announced Friday the opening of seven new net branches.
The self-described "largest privately held mortgage banker/broker" said it stepped into five cities it previously did not have a presence in: Concord, N.H.; Edgewood, Md.; Gilbert, Ariz.; Exton, Penn.; and Maineville, Ohio.
The remaining two consisted of new offices in Anaheim Hills, Calif., and Fenton, Mo., Allied reported.
The branches in California, New Hampshire and Pennsylvania reportedly are the second openings in these states in the past two months.
The new locations add to the Houston, Texas-based company's branch network of more than 650 offices in 49 states and the Virgin Islands, which in 2004 funded over $12 billion in loans, according to an announcement.
The self-proclaimed largest U.S. mortgage broker just got bigger.
Net Branch Adds Offices
One of the country's biggest brokers has expanded in three states.