Movement Mortgage plans to expand its operations in a new facility it is leasing from the city of Norfolk, Va.
The lender has relocated 550 operations professionals from leased space in nearby Virginia Beach to the new center. It plans to add more than 100 new positions, including underwriting and processing jobs. Entry-level positions for recruits from its Movement University training program also will be available.
Movement has invested $3.1 million in the 93,000-square-foot building, which has amenities that include a gym, cafe and prayer room as well a better technological environment for existing systems. A $600,000 grant from Virginia's Economic Development Partnership also partly funded the project.
Virginia is a large market for Movement, which lends in 47 states and originated $12 billion in loans in 2016. Toby Harris, co-founder and executive vice president, works out of the Virginia office, and one of the two offices the company had at inception was located in the state.
"We are so excited to be expanding in the state where it all began," said Movement Mortgage CEO Casey Crawford in a press release.
Movement is headquartered in Fort Mill, S.C., near where its other original office in Charlotte, N.C., was located. It also has an office in Tempe, Ariz., that handles its West Coast operations.
The company has been using community processing teams focused on particular markets with an aim of cutting the company's purchase-loan closing timelines. Closing times are becoming more competitive in the purchase market.