Mortgage Daily Logo
mortgage news from industry experts

Amerisave Adding Origination, Production Employees

Amerisave Adding Origination, Production EmployeesSubprime expansion occurring in Atlanta

December 8, 2004

By COCO SALAZAR

Production personnel looking for employment in Atlanta will benefit from the subprime expansion next year of one mortgage company.

At a time when rates are rising and refinances are dwindling, Amerisave will quadruple its staff throughout 2005, according to spokesman David Herpers. The online lender strategically pushed into the subprime market about eight months ago and plans to widen its presence in this sector, Herpers said.

The Atlanta, Ga.-based company, which launched in July 2002, reports production of $2.5 billion since January 2003.

While most of its revenue has been derived from prime loans, within the next year Amerisave estimates subprime loans will account for about 50% of its total revenue.

In line with its business model, Amerisave is counting on approximately 200 new subprime employees to fuel and service nonprime business. Of the total hirings expected to be in place by the end of next year, 158 will be subprime loan advisors. The rest of the new hires will consist of loan processors, loan closers, and sales managers, as one of each is assigned to a team of 8 to 12 loan advisors.

Amerisave will hire about 12 subprime loan advisors per month until it extends its current number of 42 employees in this position to 200.

The employees will be housed in Amerisave’s national call center in Atlanta. The company currently employs about 80 people.

Future plans of the lender, which says it serves in 41 states via its Web site and ranks as one of the top 15 U.S. online mortgage originators, include opening a call center on the West Coast.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.email: s3celeste@aol.com

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION