Sorrento Capital's MOS Group, a loss mitigation service provider, is moving into a new 45,000 square-foot facility in Irvine, Calif. This move more than doubles office space for the company, which has hired over 150 new employees over the past five months.
MOS Group attributes its growth, in part, to its participation in the federal Making Home Affordable program. To date, the company has worked with over 50,000 borrowers representing nearly 20% of all borrowers qualified for the program.
MOS Group anticipates it will continue hiring staff with mortgage industry experience over the coming 12 to 18 months. Greg Hebner, MOS Group president, points to the high number of mortgage processors, underwriters and closers in the Irvine area who are currently unemployed or working outside of the mortgage industry as the reason for the new office location.
The company, with a total of 350 employees, also has operational centers in Farmingdale, N.Y., and Glen Allen, Va.
SOURCE: MOS Group