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Fastest Growing Mortgage Employers

Ranking of companies based on jobs added

Oct. 25, 2013 (updated Oct. 26)

By Mortgage Daily staff

A ranking of the 100-fastest growing U.S. employers included nine mortgage-related businesses. The fastest growing mortgage firm added more than 1,500 new jobs over a one-and-a-half-year period.

At 554 employees, Evolve Bank & Trust has added 203 jobs over the prior 18 months. That made the bank the ninth-fastest growing mortgage-related employer and ranked it No. 65 on the Inc. Hire Power list.

Revenues at the Memphis, Tenn.-based company were $79 million in 2012. Even though it has recently been growing its staffing, Evolve Bank has been around since 1925.

The Inc. Hire Power Award features private U.S.-based firms that were in business since at least 2011 and had at least 10 domestic full-time employees as of Dec. 31, 2012.

DocuSign ranked as the eighth fastest-growing mortgage-related employer, adding 276 positions. The Seattle-based firm reported a total of 464 employees.

With 280 jobs added, Mortgage Master Inc. was No. 7 among mortgage-related firms. As of the reporting date, staffing totaled 771 people.

Walpole, Mass.-based Mortgage Master finished the third quarter with headcount of 764, according to the Mortgage Daily Third Quarter 2013 Origination Survey.

Last year's revenues reached $160 million at Mortgage Master.

New American Funding came in sixth, adding 447 jobs in the period covered and bringing the total number of employees to 786.

The Tustin, Calif.-based company reported in Mortgage Daily's Third Quarter 2013 Origination Survey that it finished last month with 798 employees.

New American had $146 million in 2012 revenues.

The fifth-fastest growing mortgage-related employer was Residential Finance Corp., where the number of employees was 901 -- up 570 positions during the period. RFC, based in Columbus, Ohio, reported $33 million in 2011 revenues.

With an increase of 1,022 jobs, Urban Lending Solutions was No. 4 on the mortgage list. Staffing at the Pittsburgh-based company was 1564.

Urban Lending had $183 million in revenues last year.

The third fastest-growing mortgage employer was Freedom Mortgage Corp. The number of employees at Freedom jumped by 1,080 to 1,987.

Freedom reported to Mortgage Daily that it's headcount slipped to 1,986 as of June 30.

The Mount Laurel, N.J.-based lender, which generated $358 million in revenues during 2012, is affiliated with Cherry Hill Mortgage Investment Corp., which closed on an initial public offering earlier this month.

The runner-up was Wingspan Portfolio Advisors, where staffing expanded from 1,344 to 1,704 during the report period.

Wingspan, a Mortgage Daily advertiser, has subsequently reported that staffing has reached 2,000.

The Carrollton, Texas-based distressed servicer ranked as the fastest-growing mortgage-related firm this year based on 2012 revenues of $77 million.

At the top of the fastest-growing employer list among mortgage firms was Guaranteed Rate Inc., which came in fourth among all companies on Inc.'s ranking.

The Chicago-based company added 1,535 jobs to come in with headcount of 2,784 as of the report date.

In Mortgage Daily's Third-Quarter 2013 Origination Survey, Guaranteed reported that staffing has grown to 2,803 as of Sept. 30.

Revenues last year at Guaranteed were $517 million.

Other mortgage companies not ranked by Inc. that have seen phenomenal staffing growth include Quicken Loans Inc., where headcount has climbed to 10,000 as of June 30 from 4,000 at the end of 2011; Nationstar Mortgage LLC, which has increased its staffing to 7,700 as of July 31 from 2,599 as of Dec. 31, 2011; and Walter Investment Management, where the number of employees has grown to 6,200 as of June 30 from just 2,600 as of Sept. 30, 2012.

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