Friday, March 20, 2009

US Bank Mortgage Expands Owensboro Facility, Adding 300 Jobs

U.S. Bank Home Mortgage, which services more than a million residential loans nationwide from its service center on Frederica Street in Owensboro, Ky., will add 300 jobs and construct a new 50,000-square-foot building in the Highland Point Development to accommodate its growing business. The new building will be located at the corner of Bypass 60 and Highway 54. 

Approximately 225 employees will move to the new facility while 500 employees will remain at U.S. Bank’s 70,000-square-foot Frederica Street campus and 150 employees will stay at its 208,000-square-foot Moreland Street facility. 

“We will continue to add quality loans to our solid mortgage portfolio,” said Dan Arrigoni, president of U.S. Bank Home Mortgage. “This is a great time to reinvest in our infrastructure so that we can keep on providing top-notch service for our existing customers while building for our future mortgage growth.”

Nick Brake, president of the Greater Owensboro Economic Development Corporation, said, "We are proud that U.S. Bank Home Mortgage chose Owensboro for this important and timely expansion. The additional jobs will likely mean that U.S. Bank will become the largest private employer in the region. We look forward to their continued success inOwensboro, as U.S. Bank is a significant contributor to our regional economy. With all the public investment in our community, there has never been a better time for private investment in Owensboro as well.”

Bob Smiley, U.S. Bank executive vice president and loan servicing manager at U.S. Bank Home Mortgage said the company reached a milestone in 2007 by surpassing $100 billion in servicing volume. Today, that volume has surpassed $144 billion and continues to grow.  It ranks ninth among mortgage companies nationally in terms of its servicing portfolio, and is in the top five in mortgage originations as of the fourth quarter of 2008.

U.S. Bank currently employs more than 850 people in Owensboro, plus approximately 100 temporary staff. 

“We are excited about expanding our national mortgage center here,” said Dan Prather, senior vice president at U.S. Bank Home Mortgage.  “It says a lot about the quality of the work force, the strong work ethic and the importance of the Owensboro market for U.S. Bank going forward. Owensboro is a key business center within our company and we look forward to our continued growth.”

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