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Maryland Lender Adding 100 Jobs

Maryland Lender Adding 100 Jobs

NFM relocating in Maryland

June 19, 2006

By COCO SALAZAR

photo of Coco Salazar
A planned relocation by a fast-growing Maryland-based lender will result in a one-third staff increase.

After a year and a half of planning, NFM Inc. decided it will move its headquarters and 130 jobs next month from Baltimore to Linthicum, Md., President and Chief Executive David Silverman told MortgageDaily.com.

Since 2004, NFM has expanded its staff by over 30 percent to the current 300, according to the executive. The company is poised for further growth with plans to add 100 employees to its payroll by 2007.

A broad range of new hires, including loan officers, underwriters and branch managers, will be accommodated in various branches nationwide, Silverman said. Each branch has an average of five employees.

NFM, which reportedly started up in 1998 as a local broker, made the 2004 and 2005 Inc. 500 ranking of the fastest-growing private companies in the nation. In the most recent ranking, it placed No. 317 due to its 416% sales growth rate from 2001 to 2004.

Silverman said the company closed about $500 million in mortgages each of the past two years.

While NFM currently has a presence in 35 states, “we’re looking at new states all the time,” Silverman added. “Our retail branching system is the reason for our growth.”


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.e-mail: MortgageWriter@aol.com

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