New LendingTree Sub to Add More Than 700 Production Jobs

HomeLoanCenter.com recently moved to a new site in Irvine, Calif. — doubling its office space. The new 162,000-square-foot space gives room to accommodate over 800 new hires — of which more than 700 will be mortgage sales and processing employees — within the next 12 to 15 months, according to company spokesman Jason Jepson.

“We’ve been very fortunate in our ability to adapt to coming changes in the marketplace” he said, noting that HomeLoanCenter.com “started building [its] home equity team when others were focused on refinances.”

Due to continued growth, the new call center location represents the third time HomeLoanCenter.com has moved since its inception in July 2002. The online lender reported that it began with six employees, “a handful of cell phones, an Internet connection, and a fax machine,” which in two years has grown into a “nationally recognized leader in online full spectrum lending,” approved in all 50 U.S. states, with over 600 employees and over $3 billion in funded loans.

“With our continued execution to capture more market share, we needed to secure a large piece of real estate in the prime Orange County office market,” chief executive and founder Anthony Hsieh said in a prepared statement. “Our business plan has allowed us to grow and succeed, even in a rising rate environment.”

The “branchless” online retail lender says its Internet proprietary technologies allow it to utilize consumer credit profiles, search thousands of loan programs, and return loan eligibility and pricing directly to potential borrowers through its call center or web site.

At its new location, HomeLoanCenter.com has the option to garner an additional 60,000 square feet of space to be able to seat a total 1,700 employees, or 200 to 300 more employees than it currently intends to add to its employee base, according to Jepson.

The upgraded capacity is in line with LendingTree’s comments last month that its anticipated acquisition of HomeLoanCenter.com represents “a growth driver” for both companies. HomeLoanCenter.com will be branded under the LendingTree name once the deal is closed, which is expected later this year or early next year, according to an announcement.

LendingTree is an online lending exchange that connects consumers with lenders and REALTORS, and enables consumers to choose from multiple competitive loan offers.