|The mortgage banking subsidiary of a New York bank is undergoing a Florida expansion, with nearly 100 jobs slated to be added over the next year.
M&T Mortgage Corp. has opened retail offices in Tampa and Naples and will open a third one in Orlando next month, company spokesman Chet Abridger told MortgageDaily.com.
The lender, a subsidiary of regional banker M&T Bank based in Buffalo, N.Y., announced it is currently recruiting job prospects to fill as many as 30 jobs, with approximately 10 positions each slated for Tampa, Naples and Orlando. The new jobs will consist mostly of loan officers and some administrative positions, Bridger said.
The residential lender plans to add more offices by the end of 2006. The markets considered include, Jacksonville, Palm Beach, Ft. Lauderdale, Miami, Sarasota-Bradenton and Tallahassee, according to the announcement. These offices would also have about 10 employees each, Bridger said.
“M&T has a long-standing commitment to the residential mortgage business, so this expansion makes sense for us,” said M&T Mortgage President James J. Beardi. “In addition to the traditional fixed-rate, adjustable and government loan products found at most banks, we also specialize in residential construction loans, condominium financing and other niche products which are a natural fit in these growing Florida markets.”
Florida “presents a prime opportunity” for M&T as there is a growing number of people from the Northeast migrating to retirement and vacation homes in the state, according to Miles F. Cary Jr., head of M&T’s Tampa-based Florida division.
M&T, which has offices in 22 states and originated over $6 billion in residential loans last year, has 10 additional employees in Tampa as part of a wholesale mortgage division it recently took over from Regions Financial, according to the announcement.
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