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MO Lender Adding 300 Jobs

VA Mortgage Center to receive economic incentives

June 2, 2011

By MortgageDaily.com staff


A mortgage banker that specializes in government loans plans to expand its staff by 300.

VA Mortgage Center.com does business from its headquarters in Columbia, Mo.

The nine-year-old company, which specializes in loans that are guaranteed by the Department of Veterans Affairs, currently employs 505 people, including between 400 to 500 people at its headquarters.

An announcement Thursday from Missouri Gov. Jay Nixon indicated that the company plans to create 300 new jobs during the next five years at the Columbia location. The hirings will be rewarded with an economic incentive package valued at $6.1 million.

"The company's planned expansion is aimed at increasing its offerings, hiring more employees and consolidating its three Columbia facilities into a single headquarters in Columbia," the governor's statement said.

Volume this year is projected to come in at more than $1 billion at VA Mortgage, which claims to be the "number 1 dedicated VA purchase lender in the nation." Originations since its founding amounted to around 500,000 loans.

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