Interfirst Expands in the Chicago Area

Mortgage originator Interfirst has announced an investment of $5 million into the Chicago area, to create new jobs across the region, including up to 500 mortgage loan officer positions which the company hopes to fill with teachers from the community.

"This is about far more than simply expanding our presence in a new market,” said Dhaval Patel, SVP at Interfirst. “Our investment into the region is about hiring the kind of talent which will help Interfirst best serve the communities of the Chicago area. We're in the people business. Buying a house or refinancing your property is a big decision—we're literally entrusted with the most significant financial decision many people make. When it comes to being trusted for serving others, few people know the needs of their neighbors better than teachers.”

Interfirst aims to onboard 500 new MLOs who will have the opportunity to undergo a full, expedited training and accreditation program, at no cost.

"While supporting those who've done so much to serve others is certainly the right thing to do, this decision also makes good business sense,” said Patel. “Teachers are among the most driven, hard-working, and service-oriented people in a community, and those are the qualities we want in our mortgage loan officers."

Interfirst recently named Austen Richards Wholesale Senior AE for its Western Division, where he will develop new B2B relationships with conventional mortgage brokers, credit unions, and community banks. The company also recently expanded its product offerings by launching ONE, a new loan program backed by non-owner occupied properties, designed to fill a need in the market for multi-property, non-owner professional real estate investors, built upon a single interest rate with no adjustments and qualifies off the cash flow of the rental property (Debt-Service Coverage Ratio [DSCR] of one or higher).