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| A Kentucky-based mortgage banker has hired more than 300 employees over the past 12 months and expects to add more than 300 new positions next year. Most of the company’s business is government.SurePoint Lending funded $0.9 billion in 2007, the company told MortgageDaily.com in a statement. Current volume is around $80 million a month. While originations are estimated to fall to $0.8 billion this year, next year’s production is expected to reach $1.4 billion.
Government activity accounts for 80 percent of its business, and conforming makes up the rest. “We were ranked the 44th largest FHA mortgagee in the country in October 2008,” the statement said. The Louisville-based firm operates with its borrowers on a retail level, though it has a correspondent line. It has in-house underwriting and an in-house title company, and an appraisal unit is expected to be launched next year. SurePoint is preparing for the anticipated increased volume with new hirings. During the past 12 months, the company said it has hired 318 people. Its current employee count is 402 — including 200 Louisville employees, 51 Nashville positions and 50 Indianapolis jobs. Among the headcount are 250 loan advisors. Next year, the company expects to hire another 300 loan advisors. The growth at SurePoint at a time when the mortgage industry has been suffering was attributed to the high-quality pool of prospective employees currently available, the company’s financial strength and its ability to adapt to a fluid marketplace. “We have spent 14 years building and refining our model and are now taking this infrastructure and duplicating it city by city,” SurePoint stated. “We have at least one new hub slated for 2009, possibly taking us further west to Dallas or Denver.” |
