eMortgage Health

MortgageHub Expands Headquarters

Technology Firm Increases Space to Meet Industry Demand

Consolidate Student Loans CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--July 14, 2004--MortgageHub, a mortgage industry Web service provider that offers several modular systems for the wholesale, retail and soon to the consumer market that decrease origination time and cost, has moved its corporate office to a new location that doubled its office to accommodate a growing staff and increased service demand from the financial industry.
In addition to doubling the company's space, MortgageHub has been able to take over a space that has an extensive technological infrastructure that was installed by previous tenant, IBM.

The headquarters will house the company's growing North American executive, sales and marketing, channel and domestic support staff. The new building is 17, feet, a 100% increase over the previous location in Burlington. As the company continues to expand in to the enterprise market and focus on its reseller program, its staff has also grown. The company has 350 employees with 84 located in the Burlington corporate headquarters, and more than 38, 000 customers worldwide.

Home Equity Loans "We wanted a new headquarters that would allow us to keep doing business as usual and not require us to have down time for installing a system that would accommodate our needs," said Chetan Patel, chief operating officer of MortgageHub. "Having an office that fit our dimensional and technological needs gives us more of an advantage as we grow. Both the space and the infrastructure makes us more scalable."

The new offices are located a few minutes from downtown Houston, story, 30, 000 square foot building for $2.4 million. the art facility features high levels of security, monitoring and expanded infrastructure to support Host Gator's customer service operations. The new location already houses 100 employees, and has the capacity to accommodate the company's plans to eventually expand its headcount up to 300. To date the new headquarters is currently handling hundreds of phone calls, thousands of tickets, and about one thousand live chats a day.

Home Equity Loan Rates The company's new headquarters at 181 Washington Street in Conshohocken, Pa. also helps revitalize a historic part of the Philadelphia suburb.

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Homeowner Loans "Moving to this office was an opportunity for us to show our commitment to the community we work and its renewal," Patel added. The 5,000 square foot office features additional space for MortgageHub's technology department as well as two conference rooms and executive offices.

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Equity Loan Rates Because of its alliances with financial companies, such as Wachovia Bank, Waterfield Financial Corp., SunTrust Bank and GMAC Mortgage, MortgageHub has needed to add additional resources, including new programmers to meet their client's needs. In the new office, MortgageHub has a location that will allow the company to meet the demands of these and new clients.

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Student Consolidation Loans About MortgageHub

Second Mortgages MortgageHub, based in Conshohocken, Pa., is a Web services platform provider that has created software and services for the mortgage industry to improve the origination of loans via the Internet for retail and wholesale channels. The company offers several Web-based products and packages to meet the needs of the changing mortgage originations market. MortgageHub clients include leading financial institutions such as GMAC Mortgage Corporation, Wells Fargo Home Mortgage, Waterfield Financial Corporation, Old Kent Mortgage, SunTrust Bank, First Security Loan Corporation, National City Mortgage, Chase Home Mortgage, Wachovia Corporation. For more information, visit www.mortgagehub.com.

Federal Consolidation Loan Contacts

Equity Loan
MortgageHub, Conshohocken
Chetan Patel, 610/834-3800
chetan@mortgagehub.com
or
Media Contacts for MortgageHub
Charlyne H. McWilliams, 301/933-5567
or
Catherine Laws, 678/781-7206

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