A shake-up in the mortgage industry has created a niche for Creative Mortgage Lending. Despite a collapse in sub-prime lending across the country, the Southfield-based firm has seen substantial growth due disciplined lending guidelines.
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[Co-president and co-CEO Blaise] Dietz said the company began operations in January 2006 and had first-year revenue of about $750,000. Today, it has 30 sales reps in eight states and about 25 employees in Southfield. He said he expects to hire another 15 locally by the end of the year.
In June, Creative Mortgage was the No. 1 account for the Midwest region of Deutsche Bank Securities Inc. It also sells mortgages to Missouri-based CitiMortgage, a member of Citigroup.
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