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| First American’s loan processing unit plans to add 800 mortgage jobs in Oklahoma and Texas.
First American Fulfillment Solutions forecasts it will boost its current staff of 100 employees to a total of 900 within the next five years, company spokesman Doug Durning told MortgageDaily.com. The new hires will encompass every aspect of loan fulfillment, which includes project managers, business analysts and tech positions, he added. Under Oklahoma Quality Jobs Act, which provides tax incentives for job growth, a majority of the new hires will be placed in First American Fulfillment’s Edmond, Okla., base location. Some of the additions will take place in Lewisville, Texas, which employs 10% of the current staff and is the only other loan fulfillment center the company operates, while others may be in areas where the loan processing company will likely expand to. First American Fulfillment, previously an outsource loan processor named XSequor, was acquired by First American Corp. in May 2004. Considering the strategy the parent company is taking within the mortgage industry, the subsidiary anticipates its client base will expand and is therefore “projecting continuous growth,” Durning said in explanation of the unconfirmed future locations. The loan processor, which anticipates the annual volume of loans closed will grow from last year to between 1,500 to 2,000, has recently been adding 15 to 20 employees per month and will keep hiring on an ongoing basis, according to the spokesman. About 10% to 15% of First American Fulfillment’s production staff is made up of mortgage-skilled or experienced loan processors, another 30% to 40%, such as customer service reps, focus on communication skills, while the remaining portion is comprised of less experienced loan processors and underwriters, Durning added. |
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Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.E-mail: [email protected] |
