Undaunted by the prospect of a bust in the home loan market, First Union Mortgage Corp. is planning a dramatic expansion of its telephone marketing staff.

The Charlotte, N.C., unit of First Union Corp. plans to more than double its phone-generated lending next year, to $3.8 billion, said James Abbott, president of the unit, in an interview. He said he planned to hire 250 more telemarketing staffers within two months.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.