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Mortgage Branch News | Net Branch | Mortgage Branch Directory
Coverage of new and existing net branch operations. Programs, payouts and other details. Profiles of brokers and net branch lawsuits.


NM Firm Adding 100 Positions

Frost Mortgage to nearly double originations, employees

January 26, 2009

By MortgageDaily.com staff


A mortgage firm that operates as part of a net branch system has added 70 employees over the past year and plans to add another hundred this year as originations nearly double. The head of the operation claims to be New Mexico's No. 1 originator.

Greg Frost trains mortgage originators how to improve their business.

He also operates a growing mortgage organization: Frost Mortgage Lending Group.

Last year, the Albuquerque, N.M.-based firm closed an estimated 814 loans for $147 million, higher than $128 million in 2007, a spokeswoman told MortgageDaily.com in a statement. This year, originations are expected to reach 1,866 units for $280 million.

Frost Mortgage, which has reportedly hired 70 new employees during the past 12 months, expects to double its current headcount of 100 by the end of this year.

Frost Mortgage, which says it is licensed in 19 states, became a net branch of Primary Residential Mortgage Inc. in April 2008. At the time, headcount was just 27.

As part of the arrangement with PRMI, Frost -- who claims to have been the top New Mexico originator since 1985 -- became vice president of national training for the Salt Lake City-based net branch company. PRMI reports 800 employees operating out of around 160 branches.


Greg Frost

Frost attributes his success to the pool of originators he runs across during his training sessions.

"I've been training loan officers nationally since 1990," Frost explained in a statement to MortgageDaily.com. "Many of these originators are looking for a quality net branch model, and have sought me out -- which has contributed to personnel and production growth."

Frost claims to be the first billion-dollar originator in the country.

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Origination News | Lender Ranking | Fundings by Lender | Statistics
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