2008-06-10 15:11:33 -
www.mortgagenetwork.com - Blueprint & Partners Public Relations Kristin Canders, 207-974-7744 Kristin@blueprintandpartners.com Mortgage Network, Inc., the largest independent mortgage company in the Northeast, also known in some states as MNET Mortgage Corporation, today unveiled expansion plans for its wholesale operations in North Carolina, South Carolina, Tennessee, Georgia and Alabama. The company also announced the addition of Thomas Palmer as National Wholesale
Manager hired to lead the company's next phase of growth.
A well known figure in the industry, Palmer brings over 25 years of experience to Mortgage Network. Thom was one of the original Executive Staff of RBMG, having grown the company from start up to the nation's seventh largest wholesale lender in just six years. Thom has also been at the helm of some of the largest national companies, most recently as Senior Vice President and Channel Executive for Correspondent Lending at Bank of America Securities. Prior to that, he was Senior Vice President, Channel Director Correspondent National Sales at Washington Mutual/Fleet Mortgage. He was one of only three Fleet executives retained in WAMU's acquisition of Fleet. While at WAMU he increased volume from $68 billion to $150 billion in 2003 and he was rated as #1 channel producer accounting for 43% of WAMU's total volume. He was also ranked as the #2 national correspondent lender. Prior to WAMU, he was a Senior Vice President at Fleet Mortgage and has held numerous other positions with other Lenders.
"Mortgage Network is in an incredibly unique position in an industry fraught with losses, bankruptcies, layoffs, and mergers," commented Brian Koss, Executive Vice President of Mortgage Network. "Over the past twenty years our founders carefully managed and grew key areas of the company, resisting high growth speculative opportunities while maintaining high quality services and standards. The result is a company that is profitable, growing and attracting the most respected and experienced professionals in the business. Thom is a perfect example of someone who has an outstanding track record of repeated successes growing national wholesale organizations."
In the past twelve months, Mortgage Network has opened 8 new offices; increased its staff by over 33% and continues to hire across all offices coast to coast. It recently announced record loan volume for Q1 2008, up 93% over the first quarter of 2007. The company topped $2 billion in loans, the second highest quarter in the company's history and the highest production since the refinance boom of 2003.
Thom is based in Columbia, SC. All loans will be serviced through Mortgage Network's fulfillment centers in Portland, Maine. He attended Madison Area Technical College in Madison, WI where he earned an Associate Degree in Marketing. He grew up in the Madison, WI area and currently resides in Columbia, SC. Palmer can be reached by phone at 803-404-0656 or by email at:
tpalmer@mortgagenetwork.com.
About Mortgage Network, Inc.
Mortgage Network, Inc. is a private mortgage banking company founded in 1988 by Robert McInnes and Albert Pare III who have co-managed the Company since its inception. Mortgage Network is the largest independent mortgage company headquartered in New England. The Company's unique combination of experience, product development, and commitment to providing great service has made Mortgage Network an industry leader. Mortgage Network, Inc. currently provides mortgage banking services in over forty states and originates loans through both retail and wholesale channels. The Company has established twenty-seven regional lending offices providing retail mortgage services on the East Coast from Maine to Florida and West Coast including California, and provides wholesale mortgage services through Account Executives nationally. Mortgage Network can be found on the World Wide Web at: www.mortgagenetwork.com.
Industry Veteran Thomas Palmer Joins to Lead Aggressive Growth
Phase
