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Servicing Firm Sees Continued Growth

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During the past year-and-a-half, a growing sub-servicer has added 150 employees. Executives at the firm forecast even more hirings. The company noted particularly high growth at its seller finance unit.

In January 2009, ServiceLink held a job fair in search of 150 people to fill entry- and mid-level positions. The open jobs included closing coordinators, reverse mortgage specialists and closing schedulers. In addition, REO closing coordinators and appraisal reviewers were being sought.

Today, the Virginia Beach, Va.-based firm announced that it has completed the recruiting, and 150 employees have been added. A spokesman confirmed the hirings occurred over the past 18 months.

The news release indicated that the hirings were driven by business growth.

ServiceLink was established in 1983, according to the announcement. It was acquired in early 2009 by Fidelity National Financial Inc., the spokesman said. Later that year, Fidelity announced an agreement to acquire LoanCare Servicing Center Inc. The subsidiaries were subsequently merged and operate as ServiceLink LoanCare Servicing.

ServiceLink says it provides full-service sub-servicing and interim subservicing to 80 mortgage clients. Its sub-servicing portfolio is nearly 135,000 loans for around $20 billion.

The spokesman said it was too early to project the level of hirings going forward, noting, “the industry is shifting rapidly and as such we expand as needed to meet capacity demands for current clients as their business shifts, as well as service new clients.”

But the announcement indicated that the outlook is bright.

“Company executives see continued job growth throughout 2011 in anticipation of signing new clients in need of loan servicing administration,” the news release stated.

The company said it is seeing “significant growth” at its seller finance unit.

The number of seller finance accounts has jumped to more than 16,000 from around 8,000 in January.

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