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Mortgage Branch News | Net Branch | Mortgage Branch Directory
Coverage of new and existing net branch operations. Programs, payouts and other details. Profiles of brokers and net branch lawsuits.

Mortgage Firms Branch Out

Recent mortgage branch additions

April 2, 2013

By HOLLY LaFON Mortgage Daily

Several firms are continuing to expand by recruiting existing local branches and their managers. Others are fueling expansion by opening brand new locations and hiring new employees to run them.

With a healthy 50 percent increase in loan production during 2012, Equity Loans LLC opened 17 new branches in Atlanta over the last year in addition to expanding its Atlanta headquarters by nearly 5,000 square feet to become the largest current tenant in Perimeter Town Center.

Among key additions Equity Loans made to its executive management in 2012 were Robert Oleynick, chief compliance officer; Walt Werchanowsky, executive vice president of finance; David Abrahamson, senior vice president of operations; and Mike Montanari, vice president of secondary marketing. Other recruits included Rebekah Epting, director or marketing; Pam Hunt, branch relations manager; and Sharon Kessenich, director of compliance.

Guaranteed Home Mortgage Company Inc. reported that it opened a new Christiana, Del., branch. The office is led by co-managers Don Scioli and Eric Glass.

The White Plains, N.Y.-based company also opened a new Sicklerville, N.J., office which is being overseen by Thomas Bickett.

Continuing growth in home loans in the Washington, D.C., metropolitan area prompted Guaranteed Home to open a Reston, Va., branch headed by Stephen Carlozzi. Carlozzi is a 20-year Wall Street veteran with nine years of mortgage industry experience.

Yet another Guaranteed Home branch opened in Ridgewood, N.J., in December. That location is managed by Mohammad "Mo" Illyas, a former equity trader until joining the mortgage industry 13 years ago.

V.I.P. Mortgage Inc. is adding a second branch in Tucson, Ariz., with a bilingual staff to better serve its Spanish-speaking clients. Rob Purvis was tapped to be sales manager and vice president of the new location, while several other mortgage professionals were hired for the branch.

Multi-state branch operator NFM Inc. celebrated its 15th anniversary on March 3, 2013. Having started as a small brokerage shop with just four loan officers, it has expanded to 200 employees with retail branches in 10 states today.

In 2012, Linthicum, Md.-based NFM originated 4,142 loans, was named one of the Top Workplaces by The Baltimore Sun and was rated 198 of the fastest growing 500 privately held companies by Inc. magazine.

A new Bank of Commerce Mortgage office has opened in Santa Rosa, Calif., the Bay Area's fifth-largest city. The growing San Ramon-based bank opened in 1984 and has since established 23 branches in California, Nevada and Colorado. Mike Rooney serves as regional sales manager for the bank, which will offer in-house underwriting, documents and funding, expediting loan approval and funding.

Churchill Mortgage is opening its latest branch in Metro-Atlanta at 3330 Cumberland Blvd. A provider of conventional, FHA, VA and USDA residential mortgages in 26 states, Churchill is aiming to better support the local Atlanta community with the physical branch. It has recruited seasoned mortgage professionals Johnny Meany, David Carr and Jennifer Coe.

Churchill also named Edward North, senior home loan specialist for its Charleston, S.C., branch, to its President's Club for his achievements in both sales volume and customer service: North was among the top 10 percent of producers for performance in the U.S. and one of only 16 home loan specialists named to the list this year.

The first Churchill Mortgage branch in Washington opened in Gig Harbor. It is managed by local industry veteran Tane Cabe, who has more than 20 years of mortgage experience. Cabe, author of Double Your Retirement Dollars, will also guide senior borrowers through the Home Equity Conversion Mortgage program for purchases. HECM loans are insured by the Federal Housing Administration.

Privately held residential mortgage direct lender International City Mortgage is adding a new retail branch office in Costa Mesa, Calif. Chris Swartz, a local industry professional, will oversee the new branch. His vision is to turn it into one of the company's top-producing offices.

Mortgage Master Inc., which claims to be one of the nation's largest privately-owned mortgage companies, reported that it opened a new branch in Williamsburg, a trendy neighborhood in Brooklyn, N.Y. The burrow is an increasingly important real estate market due to aggressive economic development triggering the need for new condos, an ideal market for Mortgage Master's offerings. Peter Costakos and Peter Lucia will co-manage the new branch.

Dallas residential mortgage originator and PlainsCapital Co. subsidiary PrimeLending has expanded to San Diego County in California. The new location will have newly promoted Chad Baker as production manager. Baker has 12 years of experience, three of which are with PrimeLending. He will actually wear several hats, originating loans and serving as production manager in charge of operations, processing and marketing.

Royal Oak, Mich.-based Ross Mortgage Corp. opened a new office in Fenton, marking its 16th location in the state of Michigan. The regional, full-service residential lender will utilize the new office to provide mortgage banking services and a range of mortgage products including conventional loans, government mortgages and reverse mortgages.

Wisconsin Bank & Trust, a subsidiary of Heartland Financial USA, plans to open two mortgage lending offices in the near future. The Madison, Wis.-based company has a Madison office slated to open in April, while another planned for Green Bay should begin operation in late March. The expansion will result in 15 new jobs each and bring branch count in the state to 10 offices.

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