Faced with hundreds of billions of dollars more in loans to service, Nationstar Mortgage is executing a recruiting campaign in the Grand Canyon State to hire more than a thousand employees.
The Lewisville, Texas-based company has tripled its mortgage servicing portfolio over the past year. First quarter earnings indicated the portfolio had grown to $312 billion as of March 31 from $103 billion a year earlier.
Nationstar’s second-quarter acquisitions of mortgage servicing rights have pushed up its pro-forma portfolio to $435 billion, and MSRs on more than $300 billion in loans were in its pipeline of potential acquisitions as of last month.
In order to support the growth in servicing, Nationstar has expanded its staffing from less than a thousand employees in 2009 to nearly 7,000 as of the end of last month.
Now the growth is continuing in Arizona.
Nationstar is opening a new 160,000-square-foot facility in Chandler, a suburb of Phoenix.
The servicing center will house up to 1,200 employees.
“The jobs will be in the advanced business services sector, including mortgage processing and origination as the company collects and processes loans,” a news release from the city of Chandler stated.
Nationstar Senior Vice President of Corporate Communications John Hoffman said in a telephone interview that the company hopes to complete 1,000 of the hirings by the end of this year.
Nationstar Mortgage Executive Vice President Mike Rawls explained in the announcement that the Chandler area gives the company access to existing mortgage industry talent and a well-educated workforce.
“We have developed the workforce Nationstar needs through a strong financial services sector and the partnerships Chandler has in place with ASU and the University of Arizona,” Chandler Mayor Jay Tibshraeny said in the announcement.