iServe looking to expand its reach

by Donald Horne15 Jul 2015
One lender is poised to expand in key market states this year, taking advantage of the popularity of Jumbo loans among consumers.

“Expansion is on the forefront,” says Ken Michael, co-CEO of iServe Residential Lending. “iServe is actively seeking branches, producing and non-producing branch managers, and originators in our growing nationwide footprint, including key markets in California, Arizona, Texas, Connecticut, New York and Florida.”

Some new additions to the company’s inventory are the Jumbo and High Balance products that are “aggressively priced and sets iServe apart in that market.”

“Our goal is to be a market leader for the Jumbo and High Balance product mix, and our pricing will be reflected accordingly. We are a company full focused on growth and differentiation. We want talent with a priority of service, speed and a can-do attitude.”

Jumbo loans are a hot commodity as of late, with numbers skyrocketing across the nation.

According to Zillow.com, the number of jumbo mortgage loans – loans in excess of $417,000 in most states – has increased 13 percent since 2012 for loans with a 25 percent down payment. One of the cities experiencing rapid growth in jumbo loans is Denver, Colorado and brokers in that area are taking note.

“If the lenders can handle the volume, it’s a good thing,” Neil Christianson, branch manager for Citywide Home Loans told MPA. “I think personal income is on pace to absorb the excess costs.”

Jumbo loans have seen an 82.3 percent increase since 2012, according to Zillow. Prices have for the most part followed and, as a result, loan limits have been raised from the standard $417,000 to $424,350 this year.
 

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