Oregon Bank Will Fund Homebuilders
Umpqua Bank, Roseburg, Ore., this week added a homebuilder finance group to its commercial real estate lending division. The bank will fund construction and development loans to Oregon- and Washington-based residential homebuilders and developers.
Umpqua hired Kelly Warter to manage the group, serving as senior vice president and homebuilder finance manager. She will be based in Seattle. Her duties will include the expansion of products and portfolios.
Warter will report to John Swanson, senior vice president and head of Umpqua’s commercial real estate division.
The homebuilder finance group also will include Lisa Woodruff, senior assistant relationship manager, and Sheneil Kliewer, senior loan administrator.
Umpqua’s parent, Umpqua Holdings Corp., said residential mortgage banking revenue drove strong third-quarter profits. The company reported mortgage banking revenue totaled $24.3 million, over three times higher than a year ago.