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First Commonwealth in Pa. Opens New Mortgage Origination Division

JUL 15, 2014 5:53pm ET
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First Commonwealth Financial Corp. (FCF) in Indiana, Pa., has launched a new residential mortgage banking division.

The division will offer purchase and refinance loans for primary and secondary residences, and one-to-four unit investment properties, the $6.2-billion-asset company said in a press release Tuesday.

The staff includes 25 experienced mortgage professionals, including underwriters, closers, processors and originators. Initially they will provide in-person and online lending options to borrowers in western Pennsylvania, the company said.

The long-term goal is to expand services to borrowers in Ohio, where First Commonwealth opened a commercial real estate lending business center in March, as well as homebuyers in Maryland and West Virginia.

First Commonwealth runs 110 retail branches throughout Pennsylvania and a mortgage operations center in Wexford.

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