CalCon expands in Park City
The national mortgage lending company CalCon Mutual is expanding its offices in Park City. The Park City mortgage lending company, a branch of the nationwide mortgage banker and servicer, absorbed Mountain Express Mortgage staff this month, a local mortgage lending company that had been in business for nearly two decades.
CalCon Mutual hired on Mountain Express Mortgage founder Ron Field, Jim Askins and Jared Lagemann, with Field taking the reins of the local branch. Field originally created Mountain Express Mortgage in 1993, offering home mortgage lending as well as resort mortgage lending. The business was dissolved when Fields took over, bringing his team with him to the CalCon offices located on 1887 Gold Dust Lane.
"(CalCon) approached me about three or four months ago," Field said. "Their branch manager had left and it created this void in the team. I remember I used to do business with CalCon before a branch opened in Park City. They were familiar with me and they offered me an opportunity that I couldn’t pass up."
The nationwide business is seeking more locations in similar resort towns in Park City alongside investing more in the Park City market, Field said. Locations in Colorado and Wyoming are being explored, CalCon in the ready position for the return off resort growth.
"The Mountain West is an area very CalCon is interested in," Field said. " Resort lending is an important part of the business. They feel there is a void in the marketplace today, one larger than there has been in the past and they have the ability to capitalize on that.
"It’s a very strategic and optimistic look at the economy."
CalCon employs over 200 people, in regions stretching from New York to Hawaii to provide direct lending for nearly any type of loan, including traditional conforming, FHA, VA, USDA, reverse mortgages, resort lending, construction solutions and commercial opportunities, a press release from CalCon stated.
"I have known Ron and his team for a number of years and have respected their work ethic and accomplishments," said Shane Erskine, COO of CalCon, in a press release. "We are fortunate to add Ron, Jim and Jared to our existing Park City operations. Over the past couple of years, we have witnessed dramatic changes in residential lending, and the resort world has been acutely impacted. We are confident that Ron as Park City’s Branch Manager is the perfect match for moving that office forward as a market leader."
Field has originated over $2 billion worth of home loans during his career, according to a press release. Askins has been a resident of Park City since 1990, and was a former Regional Vice President for a major bank in California. Lagemann moved to Park City in 2007 and has more than 20 years experience in financial services.
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