twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
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.


The Branch Journal

Mortgage firms root branch systems in local markets

Sept. 17, 2012

By AIMEE BROWN Mortgage Daily


With current economic conditions dictating little to no job growth or corporate expansion, the mortgage banking industry is pushing against the national trend. Several firms are expanding their nationwide, retail presence by opening new branches in local markets, and a few firms report significant growth in the markets where existing offices have taken root.

While most expansion activity includes new branch openings and employee recruitment, Gateway Mortgage Group announced its May acquisition of an existing retail branch in Omaha, Neb. Previously part of the MetLife retail branch network, this newest Gateway addition provides the company with its largest branch. Kent Geschwender, former branch manager with MetLife Home Loans, will lead the eight-person loan officer team.

"We knew it was important to align ourselves with a lender that shared the same core values we deliver to our borrowers every day," Geschwender said. "Gateway's business principles were a natural fit for us and allow us to enhance our borrower's experience through the life of their loan."

In a July 11 news release, America's Choice Home Loans, LP announced the addition of a new retail origination branch office in Morristown, N.J. This office marked the company's fourth branch office for New Jersey. Steve Scarfo was appointed branch manager for the Morristown office. Additionally, Scarfo will serve as ACHL's New Jersey state manager.

While Primary Residential Mortgage Inc. didn't announce any new retail branches, the mortgage firm did reveal its corporate brand refresh in a July 11 media statement. Dave Zitting, president and CEO of PRMI, said the brand refresh better reflects the company's mission and core values aimed at helping PRMI's clients in their pursuit of home ownership.

Wisconsin-based Inlanta Mortgage saw significant expansion, according to a May 8 media report. The company named new branch managers to each of its three new office locations. Laura Leonard was appointed to Marshfield, Wis., Yvette Clemont was placed at De Pere, Wis., and Daniel Palmer received Schaumburg, Ill.

Gateway Mortgage Group also entered the south Houston market with a new retail branch, according to a Jun. 27 news release. Teri Treadway will manage this Matagorda, Texas, office. Treadway most recently served as a branch manager with Cornerstone mortgage before joining Gateway.

Earlier this month, Private National Mortgage Acceptance Company LLC reported it would open a new facility in Pasadena, Calif., so its subsidiary, PennyMac Loan Services, could expand its direct mortgage lending initiatives and operations. Stephen Brandt, managing director of retail production, will oversee the facility, which will take up almost 21,000 square feet and eventually house 85 to 100 employees. On Sept. 8, PennyMac held a job fair at this new location in search of loan officers, processors, openers and underwriters to support the company's consumer growth.

K.C. Shannon will serve as branch manager to Fairway Independent Mortgage Corp's newest office in Pooler, Ga., according to an Aug. 24 media brief. With her three-person, loan officer team, Shannon's group will focus on the Pooler, Richmond Hill, Savannah and Effingham County area.

Privately held Cobalt Mortgage opened two branch offices and geared up its efforts to open two more offices in recent months. Cobalt Mortgage's July 17 news release listed Paula Bonney as branch manager for the company's office that will launch in Dallas. Oregon's Pearl District or East Portland area was slated to house the mortgage firm's newest office in the state, according to a June 18 media brief. With over 28 years of residential mortgage experience in this region, Mark Holzmann was appointed branch manager of the new location.

As well, an April 10 press statement reported that Cobalt Mortgage made its debut in the Colorado market by placing a new office in Fort Collins, naming Eric Engel the branch manager, and appointing Nancy Smith the regional manager. Then, just two months later, a June 13 announcement states the company opened a second office in Colorado Springs, Colo., for its sophomoric debut. Colorado Springs' branch manager Suzanna Mattson will serve under Smith's regional guidance.

BluFi Lending opened a Walnut Creek, Calif., office, the company's third California-based office, according to a July 17 press statement. With branch manager Mario Vargas at the helm of this 5,000 square foot space, a team of mortgage bankers, loan processors and back office staff will cater to BluFi's increasing client base.

Early June saw V.I.P. Mortgage expand its southwest presence to Albuquerque, N.M. The new Albuquerque office marks the company's entry into New Mexico, according to a June 5 media report. Branch manager Jim Bakhitiar will lead a three-person team out of V.I.P. Mortgage's flagship New Mexico office.

At May's end, Real Estate Mortgage Network Inc. reported the status of its Menlo Park Funding branch division. The company's MPF branch saw steady growth since it first launched two years ago. MPF started with 12 branches and has grown to 20 licensed branches as of the first quarter of 2012, an important milestone for this division.

In Baltimore, George Mason Mortgage opened a new office in May and named Brad Gibbons, a lifelong local resident, as the branch manager.

To expand its presence in The Woodlands, Texas, area, Cherry Creek Mortgage Co. opened a new Market Street branch location, according to a news report in the May 11 edition of The Houston Chronicle. The article lists branch manager Jason Higham and two mortgage loan originator new-hires as the employees the Market Street branch would accommodate.

Finally, Guaranteed Home Mortgage Co.'s April 25 announcement completes this update of recent mortgage branch activity. The company added a new Palm Beach County, Fla., office and appointed the branch manager position to Brian Biancardi. Biancardi listed access to the company's loan origination software as one of his reasons for joining Guaranteed Home Mortgage.

next story

back to current headlines


Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.


Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders