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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.


Billion Dollar Player Boosts Staff

Gold Star Mortgage adds 140 employees this year

Oct. 18, 2010

By MortgageDaily.com staff


A Michigan firm that originates nearly $1 billion annually has added more than a hundred employees so far this year and could add more.

Last year, Gold Star Mortgage Financial Group originated 5,900 loans for $945 million, the Ann Arbor, Mich.-based company reported to MortgageDaily.com.

From Jan. 1 to Sept. 30, production was 3,447 loans for $635 million -- putting the company on track to fund nearly $850 million this year. Around two-thirds of its business is conventional, and the rest is government. Refinance share currently stands at 58 percent.

The company employed around 260 as of the end of last year, growing from just two people when it was founded in October 2000.

Current headcount stands at more than 400 employees who are operating out of 20 branches in five states.

Headcount could reach as high as 450 during the next year "assuming the trend of minimal attrition in the last year and the projected plans for expansion remain relatively constant," the statement said.

An announcement today from Gold Star indicated that it is ranked as a top place to work by the Detroit Free Press and a fastest growing company by Inc. magazine.

"We attribute much of the company's ability to adapt to our staff's knowledge, experience and flexibility." Gold Star Chief Executive Officer Daniel Milstein said in the statement. "These people are passionate about providing clients with a high level of personalized service. I am grateful and humbled by their contribution to Gold Star's development -- as a business and a family."

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