Movement Mortgage announced recently that it will relocate its Virginia Beach headquarters to South Carolina. The company plans to spend $22 million to build its two-story, 104,000-square-foot facility in Bailes Ridge Business Park on S.C. 160. Construction is slated to begin in March, according to the Charlotte Observer.
Crawford, and partner, Toby Harris, started the business in 2008, during the height of the financial crisis, with four employees in Virginia Beach, Virginia. Now the company has more than 1,200 employees and 280 offices in 23 states.
Crawford said the company is planning to add about 80 employees every month. Average salary for the new employees— most of whom will fulfill mortgage loan applications— will be about $56,000, he added.
In 2014, the company processed 25,000 government-backed loans— $4.3 billion in closed mortgages, which equates to 1% of financed purchases in the U.S., Crawford told the HeraldOnline.com. The company is on track this year to process $6.4 billion in home loan
The company’s growth rate runs counter to the industry. While the sector is constricting, Movement Mortgage’s growth rate has been 35%, he told the newspaper.
The company prides itself on its 7-Day Processing program. Movement Mortgage stated it currently processes over 70% of loans in seven business days or less.
A mortgage company co-owned by former Carolina Panthers player Casey Crawford has expanded quickly since its inception and now plans to create 650 jobs as part of its U.S. expansion.