As goes the mortgage market, so goes Huron Valley Financial these days. And the Ann Arbor-based mortgage-banking firm is growing with its industry.
Eric Bradley,
Huron Valley Financial's president & CEO, says the HARP 2 federal refinance program and aggressive action by the federal reserve to keep mortgage interest rates at historic lows have created a bull market for firms like his. His 16-year-old company has enjoyed more than 100 percent revenue growth and has hired 14 people, expanding its staff to 63 employees and a few summer interns.
"The numbers are astronomical for our growth,"
Bradley says.
Specifically,
Huron Valley Financial has enjoyed a lot growth in that part of the market in Washtenaw County in the last year. Bradley is also seeing that activity spread to other suburbs in Metro Detroit, including to communities that Huron Valley Mortgage already has offices, such as Brighton, Clarkston, Fenton and Birmingham. His firm is also looking at opening more offices in other regional suburbs, such as Livonia and Farmington.
"The trend and the direction is certainly positive," Bradley says. He adds that the current environment "has created a layup for home owners. We're seeing a lot of refinancing out here because of that."
Source: Eric Bradley, president & CEO of Huron Valley Financial
Writer: Jon Zemke
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