Bank of Utah to open new mortgage lending office in S. Jordan

OGDEN – Bank of Utah  will open a new mortgage office in South Jordan. The bank reported purchasing assets and hiring existing employees of Optimum Mortgage, at 893 W. Baxter Drive. The new Bank of Utah Mortgage office will house eight loan officers and three support staff, and will offer Bank of Utah’s full suite of mortgage lending services.

“Because our mortgage lending operation has seen great success in our existing markets, Bank of Utah has taken advantage of this partnership in South Jordan,” said Branden P. Hansen, senior vice president for Bank of Utah. “We have great faith in the future of Utah’s commercial and residential mortgage lending, and this partnership will serve as another step in expanding our reach in the market.”

Hansen said 2009 was a banner year for Bank of Utah in residential mortgage lending, with $309.7 million in total mortgage production from seven offices. This made up 40 percent of the bank’s net income for the year, and was 22 percent higher than the previous year. Bank of Utah is also one of the top producers of first-time home loans in the state.

“We are excited to bring our level of service and variety of mortgage lending products to the South Jordan community, including FHA, reverse, construction lending, and Utah housing loans,” added Hansen. “Bank of Utah also brings deep expertise and experience in mortgage lending to the area. We do everything locally from start to finish including using our own capital for the loans, doing the underwriting and loan processing, and even making all the decisions locally. This means we have complete control of our transactions and can process loans much quicker, without last minute changes. Bank of Utah also brings real knowledge of mortgage loan regulations, which protects the consumer.”

Adam Catmull, current owner of Optimum Mortgage will serve as the branch manager at the South Jordan Bank of Utah Mortgage, and all current employees will remain to service existing customers.