NM Firm Adding 100 Positions

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.