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Mortgage originators and loan processors seeking employment on the East Coast can look to a New York-based lender planning to expand in the area.
Guaranteed Home Mortgage Company Inc. expects to open 10 branches over the next three months, spokeswoman Kelley Berkheiser told MortgageDaily.com in an e-mail statement. The openings will create about 70 job opportunities for assistant managers, loan officers and processors. The job openings will mostly occur in New Jersey, which was a primary focus of the branch development department in the past quarter, she said. In the last four months of 2006, the White Plains-based lender hired more than 70 employees through the establishment of nine offices and staff expansion of a Philadelphia branch, according to the statement. Four of the new offices were in New Jersey, two in New York, and one each in Florida, Georgia and Maryland. And although “it’s hard to provide an accurate estimate of 2007 branch expansion, we expect to maintain our steady, consistent approach to growth, through both new branch acquisitions and openings,” Berkheiser added. Guaranteed, which reportedly placed 499th on the Inc. 500 list of the fastest-growing private companies in 2005 due to three-year sales growth of 288 percent, currently has 425 employees and agents, the spokeswoman said. Since its founding in 1992, Guaranteed — which operates online at www.GuaranteedHomeMortgageCompanyInc.com, has survived several difficult economic environments, and its growth has been fueled by its commitment to support high-producing branch locations, according to the statement. “We have found that seasoned loan officers and branch managers are attracted to the stability and flexibility inherent in our organization,” Berkheiser said. “Our unique entrepreneurial structure and guaranteed exit strategy transaction requirement supports a diverse group of managers and employees, and facilitates the closing of all types of mortgage loans in multiple markets.” The retail channel accounts for 91 percent of Guaranteed’s business and wholesale contributes the rest. Of last year’s volume, 52 percent consisted of refinance loans, purchase loans added about 43 percent, second mortgage contributed about 4 percent and construction loans the remaining 1 percent. Almost eight out of 10 loans were prime and Alt-A and the rest were subprime, according to the statement. Berkheiser said the company does not release total mortgage production figures. |
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Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.e-mail: MortgageWriter@aol.com |
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