Prospect Mortgage, a US-based independent residential retail mortgage lender, is expanding its Midwest operations with the opening of a new Midwest regional headquarters in Schaumburg, Ill. Along with the Schaumburg opening, Prospect plans to open branch locations throughout the Chicago area and in Wisconsin and Northwest Indiana.
Joe Perry, who recently joined Prospect as midwest regional manager, said: Prospect is filling a much-needed space in the market right now. Many companies have severely curtailed their lending divisions or gone out of business altogether, but home financing is all we do. Prospect will be a major home mortgage lender in the area specializing in conforming, FHA/VA, HomePath financing, jumbo, super jumbo, reverse mortgages and renovation loans. To achieve a high-level of growth, Prospect is aggressively recruiting talented, experienced Loan Officers and will soon be hiring Operations and support staff for their branches.
As senior sales force market development manager, Cliff Theriault leads the Midwest recruiting effort. Mr. Theriault’s role is to assist in the growth of the Midwest Region. Mary Bane, midwest market manager, Special Financing division, has also joined Prospect from Bank of America, where she was a branch manager. Ms. Bane has 20 years of mortgage-lending experience and specializes in FHA loans.
Ms. Bane said: We are able to fill a huge gap in the mortgage industry between bank lending and broker lending. All we do is mortgages, not checking accounts or car loans. We are mortgage specialists. We can provide REO lists to clients to take advantage of a permanent interest rate buy-down and buyer’s closing costs of up to 6% of the sale price offered on some of these properties.
