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Net Branch GrowingFirst Houston grew by 135 in 2007, plans 100 more hires

January 8, 2008

By SAM GARCIA

Job additions will exceed 200 at a Texas-based mortgage firm during 2007 and 2008.

Last year, First Houston Mortgage added 135 employees, a spokeswoman told MortgageDaily.com by e-mail. This year, the company plans to add another 100 positions.

The company, which said in an announcement today it closes 2,000 paperless loans annually, reports production in excess of $1 billion since it was founded 10 years ago as a mortgage broker by Dana Gompers and David Zugheri. Originations reportedly increased 42 percent from 2006 to 2007.

The Houston-based mortgage banker attributed its success to staying out of the subprime market, focusing efforts on utilizing affiliated net branches and boosting efficiency through technology.

First Houston, which said it acquired the remaining interest in an India-based offshore operation from its partners last year, noted it is licensed in 18 states. The subsidiary, founded in 2004, helps the company to improve efficiencies and costs.

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