A growing California lender has already hired more than 400 employees since launching earlier this year and has plans to add in excess of 500 more by the end of next year. The company says the new jobs will carry on beyond the current refinance cycle.
In late 2004, Anthony Hsieh was president of LendingTree LLC. He joined the company when it acquired the firm he founded in 2002, Home Loan Center. LendingTree employee count reportedly grew past 2,000 on his watch, and annual loan fundings exceeded $20 billion.
In January, Hsieh founded a new firm: loanDepot.
The Irvine, Calif.-based company’s monthly closings have already reached 1,800 loans, a spokesman reported to Mortgage Daily. (the spokesman subsequently clarified that the 1,800 figure was actually monthly applications — read full story)
Headcount has ballooned to 425.
During the next four to six months, loanDepot plans to hire 150 employees in the city of Rancho Cucamonga. The company expects to have 50 of those positions filled by the opening of the new office at the beginning of November.
In support of the immediate hiring goal, loanDepot is hosting a job fair on Sept. 30.
Among the open positions are underwriters, processors and funders. In addition, information technology jobs are available.
But Stephanie Alvera, who heads up recruiting for the company, said the majority of positions being filled are sales professionals.
No specific salary ranges were provided, though “salary ranges based on position and experience,” the spokesman said.
He projected that headcount will reach 1,000 by the end of 2011.
He said that the new jobs will carry on after the current refinance cycle because “loanDepot has a proven management team that will carry it through any mortgage cycle.”
