The Change Company expands as others shrink

“While the rest of the mortgage market is experiencing at least the early stages of contraction – and I expect that to continue – we are actually growing and hiring,” Irvine said. “As we continue to expand our licensing, it starts to expand our need for people in all areas of the country.”

The hiring spurt will cover positions reflective of the “cradle to grave” mortgage process, he said, from account managers and salespeople to processors and underwriters. As it gears up for further growth, the company has made a point to attend industry conferences, including one staged by the National Association of Mortgage Brokers (NAMB) late last year and the more recent “Hall of AIME” event celebrating the broker channel organized by the Association of Independent Mortgage Experts earlier this month.

“It’s part and parcel for us continuing to make our name known out in the marketplace,” he said, noting the company is now an AIME sponsor as it seeks to heighten its profile.

To be sure, the company isn’t the only one of its kind, with some 1,000 CDFI players nationwide. “Unfortunately, most of them were not using their CDFI designation to lend on a national basis. We really were the first of our kind to become a national residential lending platform with a CDFI designation. It is a niche market, but I can’t say we’re the only one of our kind. But we certainly are the largest by far,” he said, adding that the company is now licensed in 48 states save for New York and Massachusetts. “Since then, a couple of regional CDFIs have popped up,” he noted. “You know what they say, imitation is the highest form of flattery.”

Altruism, check. Personal fulfillment, check. Yet the focused niche is a good business model too, particularly during uncertain market conditions, Irvine noted.