ysynut.wordpress.com
As many as 120 loan consultants, accounting professionals, loan processors, loan closers and clerical positions payingbetween $30,00o0 to more than $100,0000 a year will be added, said Kevinm Miller, president, CEO and founder of The jobs will be added beginning in August and will be phased in durinv the next six to nine months, he The company has 160 employees now, down from 180 at the peak of the Nort h Texas housing boom two years ago. Low mortgage rateas and Miller’s expectation of climbing home sales are spurringthe company’z growth, he said.
“We expecyt rates to be low for the next year and a then we expect home purchasing to be strongb after thatin Texas,” he said. The local housinv market certainly has a lot of groundeto recover. New-home sales in the Dallas-Fort Worth area were down 40% for the firstg four months of the year compared to the same periordin 2008, and sales of pre-owned single-familyy homes were down 24% during that period, accordingh to housing market analyst Davic Brown, director of the Dallas office of There were 4,191 new-home closings and 18,442 resalews in the area through he said.
Brown expects 2009 sales to trail year-agko numbers for the remainder ofthe “We do expect to begin to see some modes recovery in terms of transactions beginning in assuming we see the national economy begibn to turn around and we see the jobs picturwe begin to improve,” he About 70% of TexasLending.com’s business today is refinancing, compare with 40% to 50% at this time last year, Milled said. TexasLending.
com closes $60 millio n to $80 million in monthly loan volume now, or aboutr $850 million annually, Miller With the additional employees, Miller’s goal is to reacj $3 billion to $4 billion in annual loan volumd in the nextfive years, he The company provides residential mortgage loanas in Texas, Oklahoma, Michigan, Missouri and Colorado, servicinyg all of them from the Dallae office. For the week ending May 22, mortgagse loan application volume nationwidew wasup 28.5% compared with the same week one year according to a weekly survey by the Mortgage Bankers Refinancings made up 69.3% of the mortgage Loan volume in Texas was $11.
7 billiojn in the first quarter of this year, down slightly from $12.3 billion in 2008, according to the Texads Mortgage Bankers Association statistics. Mortgage industrhy employment in Texas fell by more thana 30% from 2007 to but has since stabilized, said Scott vice president of the Texaas Mortgage Bankers Association. Norman said he’s heard anecdotallhy that the surge in refinancingse is prompting mortgage lenders toadd employees, but he did not have specifiv industry employment numbers. To make room for new TexasLending.
com has signed a leaser for 69,000 square feet in its existing location at 4100 Alpha Road in Dallas more than triple the size itcurrently occupies, said Ben Hauty with the commercial real estate firm Stream Realty Partnersd LP. Hautt recently left Stream’s Dallas office to launchy the company’s office in Atlanta, wherer he is managing partner. TexasLending.conm will begin moving into its expandexd spacein August, after the completion of renovations that are now under way. After expanding, TexasLending.com will occupy all of the third, fourtb and fifth floor and part of the first flood inthe 11-story building, Hautg said.
“It’s an expansion, and today that’z not something you see a lot Hautt said. “They’re thriving in the currenf economy.” The 227,000-square-foot buildingf at 4100 Alpha Road is part of The an 11-building office complex nortn of Interstate 635 off Midway Road. The askin g lease rate for the space isabout $16.59 per square foot. Hautt and Stream Realtu colleagues Ben Sumner and Chad Henningsrepresented TexasLending.com in the and Buddy Tompkins and Seth Thatcher of commercia real estate firm GVA Cawley represented the landlord. Hautt said TexasLending.
comn searched the market before decidiny to expand within itsexisting
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment