Although residential lenders are starting to ponder cutbacks in their ranks, not all mortgage-related firms are worried about their head counts.
3 Point Asset Management of Irvine, Calif., hopes to quadruple its workforce to 100 full-timers by yearend. "We're actively recruiting," said Matt Becklin, chief operating officer for the privately held firm.
Currently, 3 Point has 25 workers and is looking to expand what Becklin calls his back bench.
Launched in November, 3 Point does not invest in nonperforming mortgages but manages delinquent loans for others. He did not identify 3 Point's backers or client base. "It's all residential, and we have just under 1,000 loans," he said. "We use loan mods, short sales and deeds in lieu," he said.
During his career Becklin has worked for such firms as PennyMac, First American Title, and Aurora Loan Services.