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NexBank to significantly expand retail and wholesale mortgage divisions

Nov 24, 2009

NexBank, a North Texas banking and financial services company, has unveiled a plan to expand its retail and wholesale mortgage divisions to further enhance its developing service operation among a growing network of homeowners, real estate agents and mortgage professionals. With double-digit expansion of both mortgage divisions during 2009, NexBank plans to add 30-plus mortgage production professionals between the two mortgage divisions in 2010. "At NexBank, we’re so proud of the work of the respective mortgage staffs, especially considering the current state of both the lending and general mortgage markets. However, with an increase of this many production officers, we’ll at least double the current size of our production staff," said Davis Deadman, chairman and CEO of NexBank. "The level of our growth reveals the true expertise currently available in these respective divisions. The staff and their leadership have done a remarkable job, and we’re proud of their performances." According to John Ory, chief operations officer at NexBank, "NexBank’s mortgage divisions are in a unique position in an industry that has realized some losses, layoffs and mergers. However, we have been able to carefully manage and grow key areas of our markets, resisting high-growth speculative opportunities while maintaining high quality services and standards." In December 2008, NexBank launched its wholesale lending division, which gave local mortgage bankers and brokers a new means of traditional mortgage funding when many other organizations were leaving the wholesale category. "We had significant goals for our new wholesale mortgage operation – and succeeded," added Ory. In July 2009, NexBank Residential Mortgage was created through a partnership between NexBank and The Funding Source, a former mortgage operation in Dallas. The creation of the new residential mortgage division provided a positioning for NexBank as a multi-faceted mortgage lender in North Texas, an important advancement in the company's desire to service customers and clients with all their financial needs. "NexBank is a strong financial institution in North Texas. The combination of The Funding Source and NexBank created a powerful mortgage franchise," said Tish Ashley, The Funding Source founder and now vice president, residential mortgage division of NexBank Mortgage. "Our customers benefit as we offer more competitive pricing with faster turn-around as well as the ability to accommodate personal mortgages of nearly any amount." "NexBank saw the opportunity to grab market share as the mortgage markets and funding sources contracted," said Deadman. "We're satisfying an absence of funding that every homeowner needs and we couldn’t be more excited about the opportunities we see ahead of us." For more information, visit www.nexbank.com. 
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