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Compass Mortgage's latest expansion comes during a time of economic uncertainty in the U.S. However, the company's decision to expand was fostered by industry optimism from Fannie Mae.
According to the company, Fannie Mae projected that the mortgage industry would continue to see an increase in residential mortgage originations. The government-sponsored enterprise predicted $4.1 trillion in origination with refinancing loans contributing $2.7 trillion to the total for 2021.
While these predictions were made earlier this year and are yet to be confirmed, Compass wanted to join mortgage companies all over the country, that are expanding their business in order to increase their overall footprint to keep up with the growing demand.
Senior loan officers Skip Brown and Jeff Kincaid are among the first to gain their licenses in South Carolina. Brown has more than 16 years of experience in the mortgage industry. Meanwhile, the company’s first senior loan officer in North Carolina is Laura Litzer who has close to 30 years of experience as a loan officer.