No Downturn Here: Residential Finance Expands, Hires

It’s not the RFC most of us with a history in the industry know, but Columbus, Ohio-based lender Residential Finance Corporation said Wednesday that the company had expanded operations in Tampa, Fla. with a move to Class A office space at One Metro Center in the MetWest International Office Park. The space was previously occupied by IndyMac Bank, F.S.B.; in the move, RFC also increased staff by twenty-five percent, adding 15 new employees. The move and growth is noteworthy not only because it shows who may come to replace some of the household lending names most of us have known over the past 10 years or so — but also because at least some lenders are still growing and going about their business. “Although the mortgage industry is in turmoil, rates are down and our applications are up,” said David Stein, RFC senior vice president and general counsel. “We had outgrown our Tampa office with 45 employees, but we have already added new staff and will open at One Metro Center with 60 people. Looking ahead, with nearly 25,000 square feet, this new office space will give us room to eventually double our Tampa-based staff.” RFC operates in 24 states, and specializes in FHA originations — a common trend among surviving independent mortgage bankers. For more information, visit http://www.residentialfinance.com.