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| A California-based home equity wholesaler plans to double its mortgage production over the next 12 months and hire 200 new employees in the process.
Secured Funding announced last week it has doubled wholesale production and added 861 new brokers during the last year. “We attribute our rapid growth to our broker network capitalizing on the profitability of home equity products and demonstrating to borrowers the value in second lien product options,” Secured President Lorne Lahodn said in the announcement. Costa Mesa-based Secured, which reported funding 5,600 loans for $450 million during the first quarter, moved its wholesale division into a new location in Santa Ana — a Southern California suburb not far from its headquarters. The company, which touts its second mortgage programs online at www.SecuredFunding.com, said it added about 200 employees this year, with a current force of more than 1,000. Secured anticipates doubling its volume and increasing its staff by at least another 20% over the next 12 months, media representative Jamie Pape told MortgageDaily.com in an e-mailed statement. RELATED: Home Equity Wholesaler Adds 87 Employees |
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Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com. e-mail:Â mtgsam@aol.com |
