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Indymac Hiring in Texas

380 Austin jobs planned

March 12, 2007


photo of Coco Salazar

Indymac Bancorp Inc. will create hundreds of home loan servicing jobs in the capital of the Lone Star State.

The nonprime lender has stepped into Austin, Texas, with a new servicing operation that will accommodate 380 employees it plans to hire by 2008, JK Huey, Indymac Bank senior vice president, told MortgageDaily.com in an e-mail statement.

Job additions could be higher than currently planned, however, as the Pasadena, Calif-based lender is still evaluating what processes it will expand into the state's capital.

Reasons behind Indymac's selection to move into Austin include the area's "good quality of life, a relatively low cost of living compared to that of California where some of our operations currently are, and the opportunity for Indymac to expand its bilingual customer service support," Huey said.

About 140 of the planned new hires are expected to be in place by the end of the month for a total of 270 by yearend 2007, according to the statement.

Staff for the Austin home loan servicing center will consist of default risk management employees whose duties include collections, loss mitigation, foreclosure/bankruptcy support and real estate owned management, customer service call center employees, and other financial and accounting support employees. The office will also hold consumer lending group employees who direct lending services to customers.

Most of the home loan servicing group employees for the new facility can expect to earn salaries of between $30,000 to $50,000, the executive said.

"We have been very pleased with the number of qualified candidates attending our job fairs and with individuals dropping by our new office," Huey noted.

Countrywide Financial Corp. has also expanded outside of California -- committing in 2004 to create 7,500 Texas jobs by 2011. As of last September, it had already hired over 3,000 ahead of schedule.

Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.

e-mail: [email protected]

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