In all, nine mortgage-related businesses are among the country’s 500 fastest-growing companies. While an appraisal management company was the fastest-growing mortgage-related company last year, this year’s top spots were taken by two distressed loan service providers.
With three-year revenue growth of 1,027 percent and 2012 revenues of $44 million, Network Capital was No. 447 on this year’s Inc. 500 list and No. 9 among mortgage-related companies.
The 11-year-old residential lender, which is based in Irvine, Calif., has added 170 jobs over the prior three years to push its staff level to 220 employees as of the reporting date.
The eighth fastest growing mortgage-related firm, and No. 424 on the overall list, was Stonegate Mortgage Corp. The Indianapolis-based lender, which reported $4 billion in first-half 2013 residential originations, saw 2012 revenues of $96 million — up 1,074 percent from three years earlier.
After adding 360 jobs over the prior three years, headcount was 444 as of the reporting date. Stonegate has since reported to Mortgage Daily that headcount has grown to 662 as of June 30.
With $14 million in 2012 revenues, CoesterVMS was No. 419 on this year’s Inc. ranking — making it the seventh fastest growing mortgage-related entity. The AMC has seen its revenues soar 1,080 percent over the three years reviewed. Based in Rockville, Md., CoesterVMS has grown its staff by 51 people during the past three years, and headcount stood at 56 employees as of the reporting date.
Atlanta-based MiLend took the sixth mortgage-related spot and was No. 326 overall on this year’s Inc. 500 with 1,323 percent three-year revenue growth. Revenues totaled $14 million in 2012. The 19-year-old company has expanded its staffing by 66 people over the past three years, leaving headcount at 86 employees.
ACT Appraisal Management came in as the fifth-highest ranking mortgage-related company with 1,388 percent three-year revenue growth. Last year’s revenues totaled $15 million. The East Dundee, Ill.-based firm has a staff of 46 people, with 43 hired in the past three years.
Movement Mortgage was the top-ranked mortgage originator on this year’s Inc. 5000. It was No. 274 on the overall list and No. 4 among mortgage-related firms. Revenues grew 1,592 percent from three years earlier to $92 million in 2012.
Movement Mortgage’s headquarters is in Charlotte, N.C. It has added 965 jobs in the past three years, and headcount was reported at 1,165. Business at Movement Mortgage is “realtor-centric,” according to the report.
Sherman Oaks, Calif.-based Landmark Network came in as the third-highest ranked mortgage-related company this year with a 2,004 percent three-year growth rate. Revenues totaled around $8 million in 2012 at the company, which provides valuation and other post-closing services. After adding 52 jobs during the past three years, Landmark Network’s staff now stands at 57 employees.
Default service provider Matt Martin Real Estate Management generated $32 million in revenues last year — giving it a 3,982 percent three-year growth rate and landing in it the second-highest position of any mortgage-related firm. The Frisco, Texas-based firm ranked No. 81 overall.
Matt Martin Real Estate was founded in 2004. After adding 95 jobs in the past three years, headcount at the company stands at 114.
The fastest growing mortgage-related company — and No. 24 on the overall list — was Wingspan Portfolio Advisors.
The Carrollton, Texas-based company generated $77 million in 2012 revenues — giving it three-year growth of 8,769 percent.
After adding 990 jobs during the previous three years, the staff at Wingspan, a Mortgage Daily advertiser, stood at 1,016 as of the reporting date. An announcement Tuesday indicated that staffing has now reached 2,000 employees.
“We’ve worked hard to position Wingspan to be of maximum service to lenders and primary mortgage servicers, as well as to their borrowers,” Wingspan Founder and Chief Executive Officer Steven Horne said in today’s news release.
Wingspan helps banks and mortgage companies service distressed home loans.
Thanks to stricter appraisal requirements, Valuation Management Group was the highest-ranking firm tied to the mortgage industry on last year’s Inc. 500 list. But on the latest list, Valuation Management didn’t make the cut.
With the January 2014 implementation of a multitude of mortgage rules from the Consumer Financial Protection Bureau, demand for mortgage compliance service providers is likely to pick up and thrust such firms onto the top of the list during the next two years.
