Independent mortgage lender opens Madison Avenue office

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
1440 Broadway and One Park Avenue (Google Maps, Vornado)
These were the largest Manhattan real estate loans in March
These were the largest Manhattan real estate loans in March
Better CEO Vishal Garg and SoftBank CEO Masayoshi Son (Better.com, Getty)
Better.com lands $500M investment from SoftBank
Better.com lands $500M investment from SoftBank
An index tracking applications for mortgages to purchase homes decreased 5 percent. (iStock)
Frenzy ending? Mortgage requests fall 5%
Frenzy ending? Mortgage requests fall 5%
(iStock/Illustration by Kevin Rebong for The Real Deal)
March madness: Homes sold faster than ever last month
March madness: Homes sold faster than ever last month
February were 10.4 percent higher than last year. (iStock)
Home price growth hits 15-year high
Home price growth hits 15-year high
(iStock/Illustration by Kevin Rebong for The Real Deal)
Foreclosures and evictions could be halted for rest of 2021
Foreclosures and evictions could be halted for rest of 2021
CFPB acting director Dave Uejio (CFPB, iStock)
Mortgage lenders must prevent “tidal wave” of avoidable foreclosures: CFPB
Mortgage lenders must prevent “tidal wave” of avoidable foreclosures: CFPB
Overall, mortgage credit availability is at its lowest level since 2014. (iStock)
Mortgage lenders play hard-to-get
Mortgage lenders play hard-to-get
arrow_forward_ios

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

Loading...