Kislak Mortgage is re-entering the residential mortgage origination business with up to 10 store-front offices in Florida, one of the most troubled housing markets in the U.S.
The Miami Lakes-based firm, more formally known as J.I. Kislak Mortgage LLC and once a household name in the lending game, plans to open shops in South Florida, Tampa, Orlando and several other metro areas in the Sunshine State.
"Now is the time for Florida mortgage buyers to be served by a Florida mortgage company," said CEO Thomas Meyer. "Currently, there are thousands of Floridians looking to buy a home who have to wait to be approved for a mortgage, even with good credit."
The company expects to employ upward of 150 loan originators and servicers - half to staff its retail offices and the rest at its headquarters to process, underwrite and fund the flow of loans originated at the bricks-and-mortar sites.
The firm is part of the Kislak Organization, a historic, privately-held firm established in 1906 that specializes in real estate and financial services on behalf of the Kislak family and its partners. The company exited the residential funding business several years ago when it sold its nonbank lending operation.
