Workplace

NASB will add 70 to 75 jobs in mortgage lending

Updated: 2013-05-15T03:07:35Z

By MARK DAVIS

The Kansas City Star

Grandview-based mortgage lender NASB Financial Inc. says it will add 70 to 75 jobs to its Kansas City home loan operations because of stronger-than-expected business.

Bruce Thielen, executive vice president of residential lending, said the company’s ability to make loans is bumping against the size of its workforce.

“We’re constrained by the number of loan originators we have,” Thielen said.

The full-time jobs, which include training, come on top of nearly 250 new positions in the past couple of years at North American Savings Bank and its parent company, NASB.

NASB moved its mortgage operations from Overland Park to Kansas City in late 2011. It handles loans generated through North American Savings branches and the company’s Internet mortgage division, which lends money throughout the contiguous 48 states.

The loans are traditional “plain vanilla” home loans, Thielen said.

NASB said the new jobs included loan originators as well as underwriting, loan closing and processing jobs. NASB also stands ready to train new hires.

Complete training takes about 15 months, Thielen said, during which the employees are able to work under trainer supervision.

Last week, NASB credited an improving real estate market with its strong earnings through the first six months of its fiscal year.

The stronger market allowed NASB to retrieve $9.6 million it previously set aside to cover potential loan losses. Setting aside the money had reduced earnings at the time; retrieving it increased the company’s profits during the six month period that ended March 31.

NASB said improvements included construction, land development and commercial real estate loans.

To reach Mark Davis, call 816-234-4372 or send email to mdavis@kcstar.com.

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