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Wholesaler Adding AEs

Wholesaler Adding AEsNo Red Tape to double sales staff

July 25, 2006

By SAM GARCIA

A jumbo mortgage wholesaler is looking to supersize its staff.

No Red Tape Mortgage recently announced it plans to double its sales force.

The Sherman Oaks, Calif.-based lender, which operates online at www.NoRedTape.com, expects “to add approximately 50 outside sales representatives over the next six months,” spokeswoman C. Meredith Fletcher told MortgageDaily.com.

Fletcher said inside sales positions will total about 60 people “after the most recent training round is completed.”

No Red Tape, which funds broker-originated Alt-A and jumbo loans, reported $3 billion in production during 2005.

“Our expansion plans are ongoing,” said Blake Scheifele, president and founder of the 8-year-old company, in the announcement.


Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com.

e-mail: mtgsam@aol.com

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