A company that subservices residential loans has opened a new office in Missouri and plans to add hundreds of new employees by the end of this year.
The company,
Cenlar FSB, has opened an office in O’Fallon, Missouri. Cenlar is an employee-owned federally chartered wholesale bank.
Cenlar, which maintains its headquarters in Ewing, New Jersey, claims that it is “the nation’s leading residential mortgage subservicer.”
An announcement from
the Missouri Department of Economic Development said that Cenlar plans to grow its employee base up to 500 by the end of this year.
The new jobs will primarily be servicing employees, though
a variety of operational and administrative support staff will also work at the site.
“A robust experienced talent pool made O’Fallon the perfect location for our expansion,” Cenlar Chairman and Chief Executive Officer Gregory S. Tornquist said in the statement.
O’Fallon should have lots of employee prospects given Citigroup Inc.’s recent reduction in its mortgage business. Citi-subsidiary CitiMortgage Inc. is based in O’Fallon, and Cenlar agreed in January 2017 to handle subservicing for some of Citi’s portfolio beginning this year.
On Tuesday, Cenlar announced that Anthony N. Renzi — who last month left his job as CEO and president of Ditech Holding Corp., formerly known as Walter Investment Management Corp. — has been named president and chief operating officer of Cenlar.
Renzi’s more than three decades in the business also included time at CitiMortgage, Freddie Mac and Residential Capital LLC.
“It is his proven track record of industry leading customer service, operational excellence and leadership that will enable Cenlar to continue its growth,” Tornquist said of Renzi.
