Independent mortgage lender opens Madison Avenue office

TRD New York /
Sep.September 07, 2011 08:35 AM

Independently-owned, Massachusetts-based mortgage company Mortgage Master, has opened an office at 590 Madison Avenue, between 56th and 57th streets, to meet demand for financing in the Tri-State area, the company announced yesterday.

“The Manhattan housing market has been remarkably resilient,” said Marc Kunen, manager of Mortgage Master’s new Manhattan office. “Establishing a foothold in the city will allow us to compete as one of the lowest cost providers and avail those savings to our customers.”

The office actually opened in January, Kunen said, but the location just received its New York State banking license in the last few weeks, allowing it to open for business. The company can finance property purchases up to $6 million.

“There are an awful lot of people poised to buy right now,” Kunen said. The company, which is licensed in over 20 states with branches in nine, funded approximately $6 billion in 2010 and continues to expand its reach in the mortgage market.

There are currently 12 Mortgage Master employees working from the 2,500-square-foot Madison Avenue office, which is operated by office rental giant Regus. Kunen said that’s likely to increase quickly, to around 30 in the next 60 days.

“Our company has been successful because we open offices in markets like Manhattan where we know we are dealing with a stable, reliable community of borrowers,” said Mortgage Master CEO Leif Thomsen. “The housing market is growing in the metropolitan area, and we want to contribute to that growth by offering low cost loans to the community.” — Katherine Clarke


Related Articles

arrow_forward_ios
The bank is accused of systematically trying to foreclose on mortgages after the state’s six-year statute of limitations had passed. (Credit: iStock)

BNY Mellon faces suit over foreclosures from the housing crash

Seattle, Washington (Credit: iStock)

Good luck buying an affordable home in these US cities

They’re just like us! “Billionaire” manse buyer takes out $58M mortgage

They’re just like us! “Billionaire” manse buyer takes out $58M mortgage

Buyer sentiment was strong at the close of 2019 (Credit: iStock)

Home buyers start 2020 with drop in mortgage rates

(Credit: Getty Images, iStock)

Small Talk: Real Estate Predictions for 2020

Many are predicting a housing bubble (Credit: iStock)

Europe could be headed toward a housing crisis

What’s next for the co-working business?

What’s next for the co-working business?

Housing and Urban Development Secretary Ben Carson (Credit: Getty Images, iStock)

HUD wants to jumpstart bank lending on low-income homes

arrow_forward_ios
Loading...