North Texas will serve as the new dual headquarters for a relatively young California-based lender. The expansion is expected to create several hundred new jobs on top of hundred of other new employees the company has recently recruited.
In January, loanDepot.com LLC held a job fair in Scottsdale, Ariz., to fill a hundred openings. Another job fair was held in December at its California headquarters to recruit 60 employees.
In August 2011, the lender announced that it opened an office in Tennessee that was expected to house 50 employees. O2Funding, a wholesale unit launched in July 2011, resulted in 50 hirings.
An announcement Wednesday indicated that loanDepot is opening an office next month in the Dallas-suburb of Plano.
The new office will serve as a dual headquarters along with the existing Foothills Ranch, Calif., location. The statement said that a sizable portion of corporate positions are expected to eventually be housed in Plano.
loanDepot Chief Executive Officer Anthony Hsieh, the former president of LendingTree LLC who founded loanDepot in January 2010, explained that the new location makes good business sense.
“The favorable tax positions offered by the city of Plano and the state of Texas create a competitive advantage for loanDepot and its shareholders that will allow us to continue to drive great value for our customers,” Hsieh said in the announcement.
As many as 500 new jobs are expected to be added at the new location during the next three years. A job fair is being held on March 12 from 11 a.m. until 1 p.m. at the Westin Stonebriar.
Hiring has already begun for mortgage sales and fulfillment teams.
Company-wide staffing at loanDepot has grown from 802 people as of Sept. 30, 2012, to 1,000 full-time employees reported in today’s announcement.
In addition to the dual headquarters in Plano and Foothill Ranch, loanDepot has locations in Brentwood, Tenn., and Scottsdale, Ariz. The news release said staffing is expected to be expanded at all of its locations.
loanDepot reported in December that it was funding around $1 billion a month and currently claims to be “a top three online retail mortgage lender.”
