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Wholesaler Hiring, Growing

Wholesaler Hiring, GrowingMillennium adding 150 account executives in first half of 2008

February 8, 2008 (revised 5:01 p.m.)

By SAM GARCIA

A California-based wholesale lender should have no problem finding qualified employees for its planned expansion this year.

Millennium Mortgage Corp. announced Monday its wholesale division is embarking on an expansion in the West.

“We see an absolute need in this market for service oriented bankers with the ability to promote the full assortment of product currently available,” Brent Platt, president and chief executive officer of the Palm Desert-based company said in the release.

Millennium plans to add approximately 150 new account executives during the first six months of this year, Human Resources Director Carol Lieser told MortgageDaily.com.

About 50 AEs will be hired in each of three regions that handle business throughout the West.

The hirings contrast massive layoffs, mostly at wholesalers, over the past year in the West. Last year, Arizona, California and Nevada alone saw around 19,000 more mortgage layoffs than hirings, according to an analysis by MortgageDaily.com. As a result, the pool of qualified employment applicants should be fairly strong.

Millennium said it may expand beyond the Western United States as opportunities develop.

“We look to our account executives to strengthen and leverage their broker relationships,” Platt said.

Among the wholesaler’s offering are FHA, conforming, Alt A and jumbo. Millennium says it even does some subprime business. Also on its menu are affordable housing programs and stated-income stated-asset loans.

The company touts “state of the art technology” that it says can provide pricing options for all of its offerings in under a minute.

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