Mortgage Banker Sees Growth
Amid an economy with record-high ongoing jobless claims, at least one mortgage company is hiring. For those recently unemployed in the mortgage industry, it might be a good time to move to California. Paramount Residential Mortgage Group (PRMG), a national retail and wholesale mortgage banker, increased its workforce by more than 50% so far in 2009. And that's just the half of it; PRMG is likely to continue expanding its California-based corporate workforce this year, company officials said in a media statement Wednesday. Paramount recently relocated its headquarters to a 22,000 square foot facility in Corona, Calif. to accommodate the growth in business and staff. "From so many different perspectives, this move represents a major step forward for PRMG," said CEO Paul Rozo. "We've had a great deal of success recently and our volume has grown at an impressive rate. I attribute this success to...our commitment to deliver quality loans that exceed the standards and expectations of today's unforgiving secondary market." The move allows PRMG to centralize and scale operations, production, fulfillment, secondary marketing and interim servicing. The firm operates a total of 14 branches in seven states and plans to continue expanding its retail channel. The mortgage banker estimates it will fund more than $2.5bn in retail and wholesale lending this year. Write to Diana Golobay.