A fairly new reverse mortgage company is making big waves for its growth initiatives and job creation.
Royal United Mortgage, a company launched by two mortgage industry veterans three years ago announced this week that it will be creating 140 new job opportunities by 2013. At a time when many mortgage companies are shedding jobs and the industry overall has seen a job deficit this year, Royal United has big plans to grow.
The company, which currently employs 151 people in its Indianapolis headquarters and recently-launched office in Schaumberg, Illinois, has been recognized as a 2011 “Company to Watch” in Indiana and was named one of the “Top Five Places to Work” in Indianapolis in 2009. The company grew from 22 employees to more than 150 in three years.
“When we launched this business a little over three years ago, we were confident that the resources available to us in the Indiana market would provide us with some of the best and brightest in this industry,” said Michael Keleher, president of Royal United Mortgage, in a company press release. “Our results have proven this to be true. I am proud of our team and look forward to our expansion.”
Royal United Mortgage closed 26 reverse mortgage loans in August, and has closed more than 281 to date in fiscal year 2011, according to data from the Department of Housing and Urban Development. The company’s reverse mortgage division operates in 16 states currently, with additional states that are in process.
Written by Elizabeth Ecker