BBVA Compass, a commercial bank based in Birmingham, Ala., will be opening a new mortgage back office processing operations center in Tempe, Ariz., and will hire up to 100 people to staff it.
"Tempe is a natural fit for our new mortgage operations center," said Jon Mulkin, BBVA Compass consumer segment director. "We currently have space in the city with existing infrastructure that we will be able to leverage. In addition, Tempe has a large labor pool of mortgage professionals which is useful for recruiting."
The new center joins existing ones in Birmingham; McAllen, Texas; and Laredo, Texas. The company said when all four centers are fully staffed, it will have approximately 400 employees focused on supporting its mortgage process.
It will work with BBVA Compass' retail origination staff, a company spokeswoman said. She added BBVA Compass projects it will have origination volume of $4.1 billion for 2011.
