18,200 Square Foot Space Will Serve As Regional Operating Center
H&R Block Mortgage Corporation, a retail mortgage lender that provides a complete range of mortgage products and services to meet the home financing needs of its clients, has leased 18,200 square feet of office space at 4256 Hacienda Drive Suite 100 here in Hacienda. The location will be used for home mortgage fulfillment, which includes origination, processing, underwriting, and closing. 75 of the company's mortgage associates will be working out of the facility, which will be opening in mid-February 2003.
H&R Block Mortgage Corporation originates first and second residential mortgage loans for conventional, government, and non-prime borrowers in 50 states. Loans are offered on single-family residential properties, one-to-four units, and investment properties. The company's loan products include purchasing, refinancing (both rate, term and cash out), services for first-time homebuyers, high loan-to-value mortgage lending, and no documentation loans. The company also offers government FHA and VA loan products and services, as well as association and corporate employee discount programs.
"We've had an office presence in Pleasanton for the past five years and our associates really like working in the community," explains Sam Hussain, regional vice president with the company. "When we made a business decision to upgrade our facilities, staying in Pleasanton was a given. We chose the Hacienda Business Park as our new home because it's easy to access and it's located close to our business associates."
The company expects a busy year. According to the Mortgage Bankers Association of America, $1.24 trillion in mortgages will be refinanced this year, accounting for nearly 20 percent of all mortgage debt outstanding.A member of the H&R Block Inc. financial services family, H&R Block Mortgage originates mortgage loans nationwide through 36 H&R Block Financial Advisors offices and five Regional Centers. H&R Block Mortgage Corporation was founded in January 1998. The company's headquarters are in Lake Forest, Calif., and it employs more than 800 people nationwide. H&R Block Mortgage originated 15,471 loans totaling $2.03 billion for the year ending April 2002. H&R Block Mortgage is a subsidiary of Option One Mortgage Corporation, who employs approximately 3,500 people nationwide, has over $19 billion under management, and is based in Irvine, California. Together they represent one of the most powerful financial and mortgage teams in the world.
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