home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.

CA Firm Hiring Hundreds

Sage to bring on 400 new jobs

June 28, 2006


photo of Coco Salazar

Hundreds of jobs are up for grabs at a rapidly-growing California-based lender that began retail operations less than a year ago.

Sage Credit Co. intends to hire 400 employees over the next six months and build its employee base to around 600, company President Quentin Caruana said in an e-mailed statement to MortgageDaily.com.

The plan for expansion comes only months after the launch of Sage's operations. The company incorporated in 2003 but did not start retail operations until the fourth quarter 2005, using the interim time to obtain licensing in all 50 states, according to the statement.

Sage closed $25 million in loans in 2005, Caruana said. But the Irvine-based lender's projected goals include funding more than $1.7 billion in the first 12 months of business and over $5.6 billion annually by the third year of business, according to a recent announcement.

"Contributing to the growth is the focus on quality across the board employing the most talented people at the corporate office as a result of the turnover in the industry," Caruana said. "It provides the company the opportunity to pick up quality and talented employees at a more reasonable cost."

Among the various positions Sage is looking to fill are processors, document drawers, underwriters, regional managers, quality control analysts and licensing specialists, the statement said.

A "good portion" of the new employees will be housed at the corporate offices in Irvine, with retail staff housed at branch locations, the executive added.

Most of Sage's branches are in Orange County and others in Sacramento and San Diego, Las Vegas, Nev., and New Jersey, according to a recent announcement in which Sage stated it would expand to 40 locations by the end of this quarter.

Currently, the Irvine-based lender has 36 offices, the executive said.

Sage's retail banking model allows focus on cost reduction to operate in a time when the market's margins are shrinking and "provides the company a competitive advantage eliminating the normal costs associated with an account executive in the standard wholesale model," Caruana said.

The "technological advantages the company has adopted has provided the opportunity to select those products that are most profitable for the organization while still providing the borrower the flexibility of all products through the alternative broker channel through wholesale conduits," he added.

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

e-mail: [email protected]

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders