by Jane Larson – Mar. 15, 2010 03:25 PM
The Arizona Republic
A northeast Phoenix company that specializes in helping banks with short sales wants to hire 100 employees by the end of the month.
Loan Resolution Corp. recently landed contracts with two nationally known banks seeking to minimize short sales by their homeowner customers, said Travis Hamel Olsen, chief operating officer.
Olsen declined to name the banks but said the contracts could quadruple the number of files Loan Resolution handles at one time, to 20,000 files from the 5,000 it now handles.
In a short sale, a mortgage lender agrees to accept less money than what the borrower owes. Loan Resolution will work with problem loans nationwide, not just in Arizona, Olsen said.
He said the hiring timeline, while aggressive, probably can be met.
“It’s a great market to be hiring in,” he said.
Loan Resolution now has 70 employees. The new, full-time positions range from senior vice president, vice president and team leaders to processors, asset managers and closers.
Processors help collect documents, similar to the skills used by loan processors, Olsen said. A real estate agent’s communication and decision-making skills could be used in the asset-manager position, he said, and closers need title and escrow experience.
Pay for entry-level positions starts at $28,000 a year. All the positions are based in Loan Resolution’s headquarters, which are in the Kierland Corporate Center at 7047 E. Greenway Parkway on the Phoenix-Scottsdale border.
The company wants the additional staffing by April 5, when a federal program known as Housing Affordable Foreclosure Alternatives begins. The HAFA program, a complement to the Obama administration’s Home Affordable Modification Program, allows borrowers to receive pre-approved terms for short sales before they list their property for sale, according to the National Association of Realtors.
Loan Resolution was founded in 2005 but didn’t begin operating until 2007, Olsen said.
He and Loan Resolution president Matt McCabe also helped found National Short Sale Center Inc., a separate Scottsdale-based company that works with homeowners seeking to renegotiate their mortgages.
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