ENG Lending opens in LO
- Lake Oswego Review - News
ENG Lending/Bank of England, based out of Little Rock, Arkansas, is expanding its operations in the Portland area and its presence around the state and region. The company announced this month it's new Lake Oswego branch and underwriting and fulfillment center.
The branch at 2 Centerpointe, Suite 500 will hire mortgage professionals and administrators - upwards of 50 employees - for its location, as well as for its satellite offices opening in Salem and Bend.
'It's an exciting opportunity for us here in the mortgage industry in Oregon to be able to work directly with an FDIC-insured bank with such a long-standing, impressive track record,' said Jason Hillman, who is part of the new branch's leadership team.
Randolph Winston and Chris Greenaway will head up the center with Hillman, bringing extensive lending and operations expertise to the table.
Their branch will be the only ENG Lending branch in the country that retains all operations in-state for underwriting and document drawing on its loans; the 52 other ENG Lending branches across the country send their loans for underwriting to the company's headquarters in Little Rock, Arkansas.
Its parent company, Bank of England, was founded in England, Arkansas, in 1898 and has assets of more than $250 million.
'We're already looking ahead to expanding our branch network throughout the western United States - to Washington, Idaho and California,' Hillman said. 'But I'm especially happy about what this opportunity means for Oregon, for Oregon originators.'
Mike Wilbur and Travis Newton, a team who recently joined Oregon's new ENG Lending NW branch and fulfillment center, agree.
'This is the opportunity we've been waiting for,' Wilbur said. 'We've been working on our own in Oregon for many years. We've hung in there through the ups and downs, but we've always felt our market was limited by the licensing requirements for serving clients in other states. But now, because Bank of England is state chartered, we can lend in all 50 states with only an NMLS registration.'
Newton concurs: 'We really appreciate how ENG Lending NW works to expand the footprints of its affiliates, so we can grow our market share and sustain a healthy balance sheet.'
National ENG Lending Vice President Brad Canada, who is the third-generation of his family to run the business, weighs in: 'We're happy to be working with such a strong local leadership team in Portland. Since fulfillment is one of the cornerstones of our business, we're especially pleased about the team's experience and high standards in this area.
'We're looking forward to a long and mutually beneficial relationship with our partners and customers in Oregon.'