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| A mortgage banker based in the State of Washington expects originations to triple this year. Last year, the company added more than 150 employees.Originations at NetMore America Inc. reached 2,800 loans for $0.59 billion during 2008, according to a report provided to MortgageDaily.com. Results were in line with an August-2008 projection that had last year’s volume surpassing $0.50 billion.
In 2007, volume for the Walla Walla-based lender — which was founded in 2006 and funded its first loan in October 2007 — was just 61 loans for $0.01 billion. During January, production was $0.13 billion, increasing from around $0.10 billion in December and putting the company firmly on track to reach its projection of $1.50 billion in originations for this year. Business is evenly split between FHA and agency, the statement said. Headcount has risen to 210 from just 41 at the beginning of 2008. But the level of new hires was well below an October forecast that had headcount surpassing 250 by the end of 2008. Among recent new hires was Michele Sophiea Newsham, who has been named executive vice president, director of operations. |
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