Refis expected to capture 45% of market this year
Tuesday, January 30, 2007
Inman News
Mortgage banker Refinance.com says
it is adding more than 80 new loan officers as part of an expansion of its New
York City offices.
The new, 15,000-square-foot office
on East 59th Street will occupy the entire fourth floor of a luxury commercial
condominium, and serve as the headquarters for senior management.
The company, formerly known as
Homebridge Mortgage Bankers, said
it has also expanded its Syosset, Long Island, location to 30,000 square feet,
and opened offices in Deerfield Beach, Fla., and Carlsbad, Calif.
Chairman and Chief Executive Officer
Nicholas A. Bratsafolis said Refinance.com originated more than $1 billion in
loans in 2006.
The
Mortgage Bankers Association projects
that refinance loans will total $1.06 trillion in 2007, or 45 percent of the
mortgage origination market, before declining to $957 billion in 2008 and $796
billion in 2009.
***
Send tips or a Letter to the Editor to matt@inman.com or call (510) 658-9252, ext. 150.
Copyright 2007 Inman News
