ogarawo.wordpress.com
As many as 120 loan consultants, underwriters, accounting loan processors, loan closers and clerica l positions payingbetween $30,000 to more than $100,000 a year will be said Kevin Miller, president, CEO and founder of TexasLending.com. The jobs will be addes beginning in August and will be phased in during the next six tonine months, he The company has 160 employees now, down from 180 at the peak of the Norty Texas housing boom two years ago. Low mortgag e rates and Miller’s expectatiojn of climbing home sales are spurrinfthe company’s growth, he said.
“Wes expect rates to be low for the next year and a then we expect home purchasing to be strong afterf thatin Texas,” he said. The local housinfg market certainly has a lot of grounto recover. New-home sales in the Dallas-Fort Wort area were down 40% for the first four monthe of the year compared to the same perioxin 2008, and sales of pre-owned single-family homes were down 24% durinb that period, according to housiny market analyst David Brown, director of the Dallas office of There were 4,191 new-homde closings and 18,442 resales in the area through he said. Brown expects 2009 salese to trail year-ago numbers for the remainded ofthe year.
“We do expect to beginh to see some modest recovery in term of transactions beginningin 2010, assuminh we see the national economy begin to turn around and we see the jobs picturr begin to improve,” he said. About 70% of TexasLending.com’ business today is refinancing, compared with 40% to 50% at this time last Miller said. TexasLending.com closes $60 milliob to $80 million in monthly loan volume now, or about $850 million annually, Miller said. With the additionalk employees, Miller’s goal is to reachu $3 billion to $4 billion in annual loan volumre in the nextfive years, he said.
The compan y provides residential mortgage loansin Oklahoma, Florida, Michigan, Missouri and servicing all of them from the Dallas For the week ending May 22, mortgag loan application volume nationwide was up 28.5 % compared with the same week one year earlier, accordinv to a weekly survey by the Mortgage Bankers Refinancings made up 69.3% of the mortgages activity. Loan volume in Texas was $11.y7 billion in the first quarter ofthis year, down slightlyy from $12.4 billion in 2008, according to the Texas Mortgage Bankers Associatio statistics.
Mortgage industry employment in Texaws fell by more thana 30% from 2007 to but has since stabilized, said Scott Norman, vice president of the Texads Mortgage Bankers Association. Normanb said he’s heard anecdotally that the surge in refinancings is promptin mortgage lenders toadd employees, but he did not have specifixc industry employment numbers. To make room for new TexasLending.com has signed a lease for 69,000 square feet in its existinf location at 4100 Alpha Road inDallads — more than triple the size it currently said Ben Hautt with the commercial real estatr firm Stream Realty Partners LP.
Hautt recentlh left Stream’s Dallas office to launcnh the company’s office in Atlanta, whers he is managing partner. TexasLending.com will beginn moving into its expanded spacein August, after the completion of renovationw that are now under way. After TexasLending.com will occupy all of the third, fourtgh and fifth floor and part of the first floot inthe 11-story building, Hautt said. “It’s an and today that’s not something you see a lot Hautt said. “They’re thriving in the currenyt economy.” The 227,000-square-foot building at 4100 Alphza Road is part ofThe Centre, an 11-buildingv office complex north of Interstate 635 off Midwagy Road.
The asking lease rate for the spacw isabout $16.50 per square Hautt and Stream Realty colleagues Ben Sumner and Chad Hennings represented TexasLending.com in the lease, and Buddy Tompkins and Seth Thatcher of commercial real estate firm GVA Cawley represented the Hautt said TexasLending.com searched the market before decidingv to expand within its existinvg building.
No comments:
Post a Comment