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Best Mid-Sized Employers

Only 3 mortgage-related firms make ranking

July 1, 2009

By MortgageDaily.com staff


Few mortgage-related entities ranked among a new list of the best medium-sized companies to work for. One that did, however, is hiring new employees at a healthy clip.

The 2009 Best Small & Medium Companies to Work for in America considered companies that employed between 251 and 999 employees for its ranking of the best 25 medium-sized firms.

The report was jointly released by the Great Place to Work Institute and the Society for Human Resource Management.

"Companies are selected for the best companies lists primarily on the basis of their employees' responses to the Great Place to Work Trust Index, a proprietary employee survey," the report said. "Further information used for selection to the list is provided by completion of the Great Place to Work Culture Audit."

The highest-ranking mortgage-related company of the list was No. 18 City Bank Texas.

The privately owned Lubbock, Texas-based institution was founded in 1941. City Bank -- which had $1.8 billion in assets as of Jan. 2009 -- has 697 employees working in 40 locations.

City Bank Mortgage says it finances purchases, refinances and second homes. Among its programs are conforming loans, government loans and home-equity loans.

Next up was Advanced Financial Services Inc., which came in at No. 19.

Newport, R.I..-based Advanced issued a statement indicating this was the fifth time it made the ranking.

Advanced, which is approved as a seller-servicer with Fannie Mae and Freddie Mac, said it has 320 employees -- including 180 loan originators. So far this year, 88 new employees have been hired, and another 80 are expected to be added by the end of 2009.

It has reportedly been operating as a retail mortgage banker since 1983 and currently conducts business in 42 states. Last year's production was 12,000 loans for $1.5 billion.

"It isn't as easy to invest in your employees when times are tough," Advanced President Kurt Noyce said in the statement, "but our leadership team found ways."

Advanced, which is also approved with Ginnie Mae, noted that employee survey responses accounted for two-thirds of ranked companies' scores, while an assessment of organization practices and perspectives from the leadership team accounted for one-third.

Nevada Federal Credit Union ranked 21st on the list.

Based in Las Vegas, the institution employees around 286 people.

The credit union says it provides first-lien government and conventional residential loans as well as construction and lot loans.

No mortgage-related companies were listed among the ranking of small companies -- those with between 50 and 250 employees.

Quicken loans, which didn't make the latest list, was the only mortgage-related firm to make the 100 Best Companies to Work For 2009 ranking from FORTUNE in January.

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