Wholesaler Adding Jobs Across Country

CreditFlex Funding, which currently operates three offices since its startup last March, will more than double its line of branches this year when it opens five new locations, company spokesman Scott Coburn told MortgageDaily.com. The new offices, expected to be in place by the end of June, will be in Sacramento, Calif., Salt Lake City, Utah, St. Louis, Mo., the MidAtlantic states and Texas.

The wholesale lender’s existing locations are in Morgan Hill, Calif., where it is based, in Bellevue, Wash., and Orlando, Fla. Under its parent net branch company, ComUnity Lending, it lends in 42 states, Coburn said.

With the expansion, the wholesale lender will grow its current staff base of about 30 employees to over 100 by the end of 2005. At full-maturity, each branch will consist of 14 to 15 employees, consisting of account executives, loan account managers and “mortgage masters,” who provide one-stop service for underwriting, loan documentation and funding, according to the spokesman.

He attributed part of CreditFlex’s ability to grow to the experience of its parent company.

“We’re a very strong mortgage banker,” Coburn said. “Our concept in regard to nonprime lending is based on 25 years of experience.”

In addition, it’s the “service level and benefit we provide using our mortgage masters — we deal with someone locally that is able to take the loan file from A to Z.”