Guardhill picks up IndyMac retail division

TRD New York /
Dec.December 11, 2008 03:16 PM

Guardhill Financial Corp., a Manhattan-based mortgage brokerage, has found new opportunities in a credit crunch that has led banks to scale back their mortgage lending.

The company, headquartered at 950 Third Avenue, at 57th Street, recently hired 30 new employees and plans to expand its New Canaan, Conn. office and open a new office in Jericho, LI, within the next several months.

“While many of the banks have been de-emphasizing mortgage lending, we’ve picked up [a] considerable market share,” said Alan Rosenbaum, president of Guardhill, a 17-year-old company that employs a total of 80 people.

The new employees come from the retail division of IndyMac Bank, which filed for bankruptcy in July.

Rosenbaum maintained that Guardhill has remained in solid financial shape despite the problems in the mortgage industry because the company’s clients tend to be “affluent customer[s] who can verify income and assets [and] have credit scores in excess of 700.”

But Guardhill has still had to adjust to stricter lenders’ guidelines in a world of tightened credit.

“We are being more cautious, making sure that we match the right lenders to the right borrowers,” Rosenbaum said.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Shawn Mobley (left), is being replaced by Andrew McDonald (right) as CEO of the Americas at Cushman

Shakeup at Cushman: Mobley out, McDonald promoted

Shakeup at Cushman: Mobley out, McDonald promoted
1118 Grand Concourse in the Bronx (Google Maps, iStock)

Landlords can now file evictions, but proceedings remain on hold

Landlords can now file evictions, but proceedings remain on hold
4 Times Square (Google Maps, TikTok)

What happens if Trump banishes TikTok, savior of NYC’s office market?

What happens if Trump banishes TikTok, savior of NYC’s office market?
(iStock)

Pandemic slammed brakes on nearly half of would-be homebuyers: Survey

Pandemic slammed brakes on nearly half of would-be homebuyers: Survey
(iStock)

To survive, NYC retailers are treating average Joe’s like they’re rich

To survive, NYC retailers are treating average Joe’s like they’re rich
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...