Texas Capital Bancshares in Dallas plans to hire 100 people for its new mortgage correspondent aggregation business line.
The $18 billion-asset company said the new hires, who will all be mortgage professionals, will complement its existing warehouse lending program, according to a Wednesday news release. The hiring will be conducted over 18 months and the employees will be based in Texas Capital's operations center in Richardson, Texas.
"We have experienced exceptional growth in our warehouse lending program," said Gary Ort, president of Texas Capital Bank's mortgage finance division, in a Sept. 9 news release.
Texas Capital announced the formation of the mortgage correspondent aggregation business line in July.
Texas Capital has added new technology for the loan review process that features enhanced due diligence with the aim of reducing repurchase risk for originators as well as improve turn times. The technology, which was designed specifically for the aggregation space, will be available to the program's loan sellers as the Correspondent Hub.
The Correspondent Hub product will provide access to correspondent application workflow and approval processes, and pricing and management of transactions.