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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.

The Mortgage Branch Building Journal

Recent mortgage branch activity

Sept. 20, 2013

By AIMEE BROWN Mortgage Daily

This summer, mortgage firms across the country added new branches to their ranks. Some firms recruited new allies, while others opened new outposts. One branch network celebrated its 20-year survival in the lending battlefield, and a pair of branch recruiters campaigned for industry professionals to settle new mortgage branches in uncharted territories.

Three former Emery Financial employees formed The Logemann Group and joined forces with RPM Mortgage Inc. In a Sept. 4 statement, RPM revealed Logemann Group President Shelly Logemann and Logemann Group vice presidents Megan Doonan and Josh Lemos will operate RPM's new branch in Newport Beach, Calif.

Last month, Mortgage Network Inc. announced former Movement Mortgage worker Erica West signed on to serve its Columbia, S.C., location as a senior mortgage consultant. In July, Mortgage Network secured its newest lending posts in Charlotte, N.C., led by branch manager Brian Barron, and Conshohocken, Pa., led by branch manager Ted Lawler. The two new locations mark the company's fifth and sixth new openings, respectively, this year.

On the heels of an earlier media message revealing its initial public offering pursuit, Stonegate Mortgage Corp. introduced sales manager Jennifer Martinez as the leader of its newest extension in Brandon, Fla.

Launched in 1993, Wisconsin-based lender Inlanta Mortgage celebrated its 20th birthday this year. With over 200 employees at 32 branches across 16 states, a company press statement said the lender's year-long birthday party included a dinner and cocktail party on Sept. 16 at the Milwaukee Public Museum, where Inlanta hosted its annual sales conference.

Mortgage industry recruiter Anikim Credit Corp. claimed mortgage companies had branch opportunities ready for the right mortgage professionals. This month, the consulting firm revealed it had branch growth potential throughout New York, and those interested could "find out if they qualify within days." In August, Anikim campaigned for recruits interested in California offices, and in June, the company featured Chicago and other major Illinois cities as a place ripe with possible new branch growth.

Lenders United, a Freehold, N.J.-based mortgage recruiting firm, announced, in August, it had net branch growth potential for all consultants, loan officers, mortgage brokers and branch managers. These potential new offices also include federal charter branches, a new service offering, according to an email from Lender President Adam Finkelstein.

Among firms that don't recruit mortgage branches were HomeStreet Bank and Cobalt Mortgage, which both increased their lending presence this month. Homestreet opened six new stand-alone home loan centers in California's northern and central markets, while Cobalt opened its 19th Washington office in Bellingham under branch manager Scott Ask.

A Plymouth Meeting, Pa.-based lender, New Penn Financial LLC, forged ahead with nine maiden branches established so far this year, according to an Aug. 12 press release. These locations bring New Penn's national office total to 50.

Other August news involved two lenders from northeast states and two from California.

Massachusetts-headquartered Mortgage Master announced its new Vienna, Va., location under manager Susan Blackmore, a former sales manager at HSBC.

Receiving its Arizona mortgage banking license was Milford, Conn.-based Total Mortgage Services LLC. The company statement also lauded Total Mortgage's first Arizona lending foothold with a premiere branch in Phoenix under manager Larry Gates. Closer to home, Total Mortgage backed its new retail branch in Fairfield, Conn., with branch leading co-managers Joe Bartolomeo and Thomas Bepko.

California's Bay Equity Home Loans proclaimed, in an Aug. 1 media statement a new-branch growth rate of 30 so far this year. Half those branches remained in-state while five reached Oregon, six touched Washington and two claimed Arizona. As well, Nevada and Utah each received one Bay Equity office.

Jay Robertson, former First Capital Mortgage president, was named president Luther Burbank Mortgage, a new division launched by Southern California's Luther Burbanks Savings. According to Luther's press statement, Robertson's division is expected to be operational by October.

Over July, another four lenders throughout the country witnessed new growth.

CSB Mortgage Co. Inc., a Cortland Savings and Banking Co. subsidiary, expanded its services to the Dayton, Ohio, area. According to CSB, Kathy Shaw will serve as CSB's senior vice president of mortgage lending and run the Dayton branch.

In a news brief, Austin, Texas', Open Mortgage said it chose a spot near the Tahoe, Nev., area for its new reverse mortgage-focused branch. Rick Sweeney and Kevin Kaltenbach, both reverse mortgage industry veterans, will man the Arizona location.

Rounding out July's branch growth was International City Mortgage. The company's statement said International City opened a retail loan origination office in Lake Oswego, Ore., spearheaded by branch manager Alan Dierickx.

Elsewhere, two articles printed in the Greater Wilmington Business Journal revealed new offices opened by two companies. One article claimed Waterstone Mortgage Corp. opened its first office in Wilmington, N.C., while simultaneously opening two more offices in North Carolina and one in South Carolina.

The other story revealed Wilmington-based Market Consulting Mortgage opened a branch in Raleigh, N.C., and named Patrick Bayley as the Raleigh manager.

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