Best Small Mortgage Companies to Work For in 2024

ByAndrew Martinez, Spencer Lee, Bonnie Sinnock, Brad Finkelstein

March 5, 2024 5:47 AM

National Mortgage News in partnership with the Best Companies Group is proud to announce the winners of the ranking of the Best Small Mortgage Companies to Work For. These are companies about the overall list of Best Mortgage Companies to Work For in 2024, who have 99 or fewer employees.

This ranking is the result of extensive employee surveys and reviews employer reports on benefits and policies. The employee survey covers eight topics: leadership and planning; corporate culture and communications; role satisfaction; work environment; relationship with supervisor; training, development and resources; pay and benefits; and overall engagement.

Once the survey data is analyzed, the companies get a score that decides their ranking. The overall score is calculated using the employee survey (weighed at 75%) and the employer questionnaire (25%). To qualify for consideration, organizations with 25 or more employees need a minimum response rate of 40% while companies with 25 or fewer employees need 80%.

See the best Small Mortgage Companies to Work For in 2024 below:

Mortgage America Inc. staff at an employee appreciation picnic

Mortgage America

Headquarters: Whitehall, Pennsylvania
Number of employees: 69

Website:

mymortgageamerica.com

Mortgage America is located in an area that President Bob Barrett describes as akin to the fictional small town of Mayberry, with many employees staying on until retirement but some positions opening up over time.

"We try not to overhire, so we don't have to lay off," said Angela Hawley, vice president and processing manager.

Compensation is designed to be locally competitive with the healthcare-dominated employment opportunities in the region.

The company operates as a mortgage bank, selectively retains servicing, and puts a priority on fast closing times and training that produces that result.

"It has to be right, and it has to be on time," Barrett said.

Mortgage America also provides financial support to community colleges in the area.

"A good community college is worth its weight in gold," he said.

Events the company hosts for employees include company picnics with food and ice cream trucks. Top processors and closer can win recognition and monetary prizes. The company incentivizes loan officers by offering them the chance to compete for a trip they can take with a spouse if they choose.

Beth Eller, Truliant's senior vice president of mortgage services, is one of only three approved eClosing instructors in the state of North Carolina. Truliant's mortgage team holds ongoing eClosing classes throughout the year.

Truliant Federal Credit Union

Headquarters: Winston-Salem, North Carolina
Number of employees: 42

Website:

truliantfcu.org

"Truliant has a variety of opportunities for growth and development, and is committed to helping employees achieve their goals," the credit union's management said in its survey response.

"Truliant's strong organizational culture helps it build greater trust with members and employees. It drives a commitment to serving the underserved, giving back and service to communities, promoting financial education, implementing green practices and supporting economic development."

Consumers Credit Union

Headquarters: Kalamazoo, Michigan
Number of employees: 88

Website:

consumerscu.org

As a credit union, Consumers is able to provide a full range of products, not just conforming and government, but balance sheet as well, said Josh Summerfield, vice president of mortgage sales.

"Building a culture is important for our employee engagement and empowering employees," he said. "It goes from compensation to benefits to programs that we run here for health and wellness."

But another part of it is having those products and services offerings for its sales staff to go out and be productive.

"It's the people, the products and process really for us are the three main focuses," Summerfield said.

Developer's Mortgage Company

Headquarters: Columbus, Ohio
Number of employees: 81

Website:

www.developersmortgage.com

Developer's Mortgage Company recently became a Freddie Mac seller, adding to the lending approvals it has from Fannie Mae, the Department of Housing and Urban Development and for Department of Veterans Affairs-guaranteed originations.

It's 75% women-owned and headed by President Linda Heaston. Taylor Stork, the company's chief operating officer, also serves as the president of the Community Home Lenders of America.

The company at the time of this writing held licenses in 20 states: Colorado, Connecticut, Florida, Kentucky, Georgia, Illinois, Indiana, Maryland, Michigan, Minnesota, North Carolina, New Jersey, New York, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas and West Virginia.

It's a place "where everyone can be comfortable enough to be themselves" and all achievements, big or small, are celebrated, according to a company statement.

Method Mortgage

Headquarters: Birmingham, Alabama
Number of Employees: 16

Website: www.methodmortgage.com

Being a smaller lender allows Method Mortgage to invest in the markets they serve and causes its employees value. In the past year, the company has boosted its support for its community referral program, a fund in which a small amount is added for each lead received, and proceeds donated to local organizations.

"We've had employees suggest charities that they want to support, and one last year it was a group called Jessie's Place that helps homeless women and children in need of medical attention," said founding partner and senior loan officer Roger Steur.

"It's fine to do loans, and that's obviously our job. But we've got a bigger, bigger purpose."

North Dakota Housing Finance Agency

Headquarters: Bismarck, North Dakota
Number of employees: 27

Website:

ndhfa.org

Headed by Executive Director Dave Flohr, the North Dakota Housing Finance Agency is a self-supporting non-profit dedicated to facilitating affordable home ownership for low- to moderate-income state residents. In addition to that, it offers programs to support the financing of the construction and rehabilitation of multifamily properties and grants that aim to serve sheltered and unsheltered homeless persons. The mission of the organization "instills a sense of purpose and fulfillment in our team members," a company representative said.

NDHFA offers a number of benefits to its employees including fully paid family health insurance and financial incentives for participation in wellness programs. They also promote community engagement outside the office with employees volunteering at several organizations including a local soup café.

Mortgage Center

Headquarters: Southfield, Michigan
Number of Employees: 84

Website: www.mortgagecenter.com

In a questionnaire sent out to employees last year, a common theme among responses was an appreciation of the communication and outreach at Mortgage Center, said Dani Soave, assistant vice president of digital marketing.

The company offers regular feedback to staff. "It helps foster growth that helps them understand what behaviors they could be doing better — things along that line — and they love that," she said as it provides guidance on what they can do to move forward in their careers.

The communication goes both ways. A direct lender as well as a credit union service organization, Mortgage Center last year introduced a wholesale lending channel, "something that our employees have been asking for even before our partners started asking for it," Soave said.

"We genuinely want to help people grow and help our business and partners grow as well."

Mattamy Home Funding

Headquarters: Maitland, Florida
Number of employees: 60

Website:

https://www.mattamyhf.com

Mattamy engages its team with "radical candor," emphasizing transparency and questions around its builder sales, said President Estelle Norvell.

The 16-year-old firm is a joint venture lender and servicer of a homebuilder and still counts most of its business in Florida, followed by originations in Arizona, Texas and the Carolinas.

The company has been able to offer buyers incentives through closing cost contributions and buydowns, an advantage amid tighter inventory. Internally, the company also undertakes "gift conversations" – the firm's check-in with its employees.

"People thrive better when they don't have to wonder what's going on or how they're seen by leadership and what their job is," she said.