Michigan Mortgage Banker Continues To Expand.

Online, June 10, 2011 (Newswire.com) - Continued signs of progress for Michigan's economy keep surfacing in various media outlets, "it has created a tremendous opportunity for growth" states Mark Workens, CEO from Mortgage 1.

On the economic front we all see the resurgence of the Detroit Automakers as a step in the right direction. They are a foundation block in the Michigan economy. Their continued steps toward recovery coupled with recent changes to the compensation rules for Mortgage Banking have resulted in a lot of interest in Mortgage 1. Most Lenders and Banks have similar interpretations to the new compensation rules but it is significant change that impacts all aspects of the way these companies operate. All this change has motivated many sales people in the lending business to take a good look around to see how others are interpreting and implementing these new rules. These changes and a stabilizing economy in Michigan have spurred on a fair amount of growth, "change is good"!

In a recent memo to his company Mark announced the hiring of Jim Wickham to help the company expand their footprint to cover the entire Midwest and not just Michigan. "Last year we added Mark Kersher to the team to help us add quality branches around Michigan, bringing in Jim this year to add branches in the surrounding states was a logical next step", stated Mark. After almost two decades of foundation building for Mortgage 1 the company is extremely well positioned to grow. They currently operate in over 20 locations across the state, double from where they were in 2008. The operations team has been together for a long period of time and they have the technology and the capacity to grow with remote branches in other areas. They have doubled their sales force, their number of branches, and their overall production in the past 36 months.

"We have found our success with a slow and methodical approach to growth" states the President of Mortgage 1, Rick Holcomb. The change in the compensation rules coupled with the operational capacity of Mortgage 1, Rick is compelled to increase their growth appetite this year. Mortgage 1 is forecasting to have their best year in terms of production. The goal is to exceed the previous peak which was achieved in 2003. In addition to adding locations they have been very specific with their product expansion. They have added products like $0 down payment loans with the Rural Development Authority and the HUD program (FHA 203K) for renovating homes, which is greatly needed in Michigan. With their focus on growth and the additions of Mark Kersher (formerly with Flagstar Bank) and Jim Wickham (formerly with Lender Ltd), this may be the year they do it!