A residential lender in Orange County is hiring hundreds of people and opening a wholesale lending division. The expansion follows moves to enhance its retail channel.
The wholesale launch is planned for the first quarter of 2012, Greenlight Financial Services announced Tuesday.
The launch follows an expansion of government lending programs at the decade-old company.
Greenlight is recruiting 400 people to support its retail and wholesale growth.
The open positions include licensed loan agents and account executives. Also being recruited are processors, underwriters and funders.
A job fair is being held at the Irvine Marriott on Nov. 5. The job fair starts at 9 a.m. and concludes at 3 p.m.
Greenlight might find some prospects from Bank of America Home Loans, which is laying off mortgage employees in Thousand Oaks and Westlake Village as it winds down its correspondent business. While many of the 1,200 total impacted BofA employees are concentrated in the two Southern California locations, employees in Florida and Texas are also affected.
Heading the wholesale launch are Greenlight executive vice presidents Mary Glass-Schannault and Gretchen Verdugo.
“Verdugo and Glass-Schannault have each transacted more than $50 billion of securitizations and whole loan transactions,” the Irvine, Calif., company said.
Overseeing the production effort is Greenlight National Sales Manager Bela M. Donine. She has established relationships with traditional mortgage brokers, and her background in national correspondent originations includes time at non-prime lenders Ford Consumer Finance and Impac Funding Corp.
A reverse mortgage division was recently introduced by Greenlight. In addition, the channel that handles loans insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs was expanded.
