Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-agency lending solutions, reports that it has relocated its Minneapolis operations group to a new space approximately four times larger than its previous location, with an opportunity to expand in the future.
The move was a direct result of the growth VMC has experienced since its inception in 2015, doubling in volume every six to nine months. Within the first quarter of 2018 alone, the company purchased approximately $400 million in non-agency mortgage loans. What’s more, it doubled its workforce in the last year as it continues to build out its operations.
While the firm’s headquarters is located in Washington, D.C., it continues to base its operations group in Minneapolis to take advantage of the city’s experienced mortgage talent.
“Rapid growth in the non-QM business has forced us to move to a new location that could accommodate our future expansion,” says Dane Smith, president of VMC, in a release. “Our goal is to remain the premier correspondent investor for expanded non-agency and investor loans by providing originators with the most comprehensive suite of products and exceptional customer service.”