Lengthening its shadow over the East Coast, Republic Mortgage Insurance Co. has hired an account manager for New York State.
Maxine Schorr, who has spent the past decade with companies in the mortgage field, joined the Winston-Salem, N.C., company this month. Ms. Schorr was most recently manager of secondary marketing at Statewide Capital Corp.
Republic, which provides default insurance that lenders require certain borrowers to carry, says the time is right to enter New York.
"The economic indicators are very favorable right now," a spokesman said. Primarily, housing starts point to increased mortgage activity, he said.
The mortgage insurer, whose products are distributed to banks, savings and loans, and mortgage banks, expects to add one or two more account managers in New York this fall, the spokesman added.
The Northeast push is part of an overall expansion that Republicans.
The company, which has $33.2 billion of insurance in force and ranks among the top operations of its type, plans further expansion nationwide, the spokesman said.