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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.


New Branches Fuel Growth

Recent mortgage branch additions

June 20, 2013

By AIMEE BROWN Mortgage Daily

Nearly a dozen lenders recently announced growth through the addition of more than two dozen new mortgage branches in areas ripe for growth, while a recruiting firm is actively hunting for managers and loan officers to farm out to branches across the country. The new crop of branch lending outposts and job opportunities offer some tangible insight into where some of the recent mortgage employment growth is occurring.

With industry staffing of 292,800, employment in the real estate finance sector as reported by the Department of Labor on June 7 was at the highest level since September 2008, when a revised 302,400 people were employed in the mortgage industry.

Some of the recent growth in mortgage staffing is the result of mortgage branch recruiters adding new locations and hiring staff as they expand their branch networks.

Residential mortgage investment and banking firm Guaranteed Home Mortgage Co.'s latest Melville, N.Y., office was established to field increasing requests for home loans on Long Island, according to a June 11 press statement. A licensed loan officer for 10 years, Gus Indjeyiannis was assigned as Melville's branch manager.

In a media announcement last month, Sierra Pacific Mortgage welcomed 13 new branches to its vineyard of offices in the retail division. The Folsom, Calif.-based company said this crop of new retail branches validated its plans "to become a leader in retail lending nationally."

Six of Sierra Pacific's new branches were peppered across California, and two locations popped up in Colorado and Nebraska.

Further east, three Sierra Pacific offices were planted in Maryland, Michigan and Massachusetts, while two Southern locations took root in North Carolina and Virginia.

Four new branches sprouted from residential lender Equity Loans LLC, according to a news release last month. The Wenatchee, Wash., and Southbury, Conn. offices, were farmed out to branch managers Scott Campbell and Sean Rogerson, respectively. These locations mark Equity's premiere season in these fields.

Rounding out Equity Loan's list of new locations is a Mount Pleasant, S.C., office headed by Oliver Caminos and a Chantilly, Va., branch led by Dean Boeving.

In April, Churchill Mortgage's lending roots spread to Michigan when the Brentwood, Tenn.-based lender unveiled two new branches. Evan and Steve Vanderwey, brothers and former co-owners of Cornerstone Home Loans, will serve as branch managers for the Okemos and Grand Rapids offices, respectively.

In Bethesda, Md., McLean Mortgage Corp. is opening its first branch in the state, an announcement Monday said. The new branch is slated to open on July 1. Alex Peters and Dennis Elliott will co-manage the location.

Thanks to lenders seeking a fresh crop of net branches, mortgage professional recruiter Anikim Credit Corp. unearthed opportunities for loan officers and mortgage brokers in several states.

"Mortgage net branch opportunities are finally starting to surface again," the Temecula, Calif.-based firm said Thursday. "When the housing market crashed, so did the job market for mortgage professionals, but now the mortgage industry is finally on the rise."

According to Anikim, the Golden State offered the most fertile ground for branch growth, especially in cities such as San Diego, Fresno and San Francisco.

Anikim also highlighted Seattle and Phoenix as other cities ripe with lending branch potential.

Additional Anikim target areas included New York and New Jersey in the North and Texas and Florida in the South.

On the flipside, Anikim, in a May 25 media statement, said growing individual interest in branch opportunities compelled the company to develop a website dedicated solely to this arena.

Mortgage Master produced a new Simsbury, Conn., branch and named 25-year real estate and mortgage lending veteran Dan Rosenfeld as branch manager, an announcement this month said. The Simsbury location brought Mortgage Master's Connecticut field office total to seven.

In April, the Walpole, Mass.-based lender revealed plans for increasing its West Coast presence by developing new facilities, recruiting top mortgage producers and targeting the California market. Mortgage Master potted branch manager Ito Rodi in the La Jolla, Calif., office so he could enlist additional loan officers and yield more originations across San Diego County.

George Mason Mortgage said in May that it has ventured into Richmond, Va., for the first time. The lender tasked Joe Dunn and Chris Parks with fostering the new branch.

Meanwhile, New American Funding's latest branch harvest culminated in an Ontario, Calif., office opening. A wine and appetizer reception for the nearby real estate community marked the grand opening. New American Funding Branch Manager Brett Reichel, Regional Vice President Inland Empire Marlene Hoover and other staff met with community members during the reception.

A late April announcement revealed HomeStreet Bank ripened a new single-family lending center in Pearl City, Hawaii, and selected Desiree Julian, a Kamehameha Schools graduate and 18-year mortgage lending veteran, to tend to the company's fifth Hawaiian branch.

A branch was opened in Fairfield, Conn., by Total Mortgage Services LLC, according to a news release Thursday. Total Mortgage co-founder Joe Bartolomeo will co-manage the new office with Thomas Bepko.

Affiliated Mortgage Co. is opening a retail lending unit at a new wholesale lending office just outside of Houston in the Woodlands, the Houston Business Journal reported Wednesday.

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