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Published Wed, Sep 08, 2010 05:19 AM
Modified Tue, Sep 07, 2010 08:11 PM

Raleigh lender set for fast expansion

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Foundation Financial Group, a mortgage lender with 22 employees in Raleigh, plans to triple its local workforce over the next six months.

Foundation said Tuesday that it will add 20 employees this quarter and another 20 next quarter at its Raleigh office, which services customers in North Carolina, South Carolina, Virginia and Tennessee.

The Atlanta company opened a Raleigh office in May 2009. Foundation has seen an uptick in refinancing because of historically low interest rates, and it has also benefited from other mortgage lenders not wanting to service some loans, said Roy Kelly, the company's division general manager in Raleigh.

The company touts its ability to close loans quickly, saying the average closing period for its customers is 16 days.

Staff writer David Bracken

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