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Vericrest Announces Relocation of Texas Center of Excellence to Irving

IRVING, Texas, Oct. 4, 2012 /PRNewswire/ -- Vericrest Financial, Inc., a premier financial services company specializing in the servicing of residential mortgage loans, today announced that it has relocated its Texas Center of Excellence to Irving, Texas. Vericrest's Texas Center of Excellence houses the Company's corporate functions, as well as asset management, business development, technology and servicing operations.

"We continue to move forward with our multi-year growth strategy while remaining focused on meeting and exceeding the needs of our customers," said David Schneider, Chief Executive Officer of Vericrest. "Since January, we have hired 215 employees across all of our sites, including 82 in Texas, and intend to expand our employee base further as we continue to grow. Our new offices provide us with a larger space to accommodate our current needs while also allowing for anticipated future growth."

Vericrest has moved its Texas Center of Excellence into a 127,000-square-foot facility located at 3701 Regent Boulevard in Irving. The office was previously located in Dallas, Texas. In addition, 22 employees have been relocated from Vericrest's Oklahoma and California offices to work in the new facility.

Moving to a larger facility is part of Vericrest's plan to expand its mortgage servicing footprint. Vericrest also recently announced several executive appointments, along with the formation of an Advisory Board comprised of distinguished veterans of the financial services community. The Advisory Board will provide insight and recommendations relating to Vericrest's strategy, new business initiatives and industry trends.

Vericrest currently employs over 600 professionals in its Centers of Excellence in Oklahoma, Texas and California, and expects its future expansion plans to create potentially hundreds of new jobs across the Company's footprint.

About Vericrest

Vericrest Financial, Inc. is a premier financial services company specializing in the servicing of residential mortgage loans in the United States. Through three Centers of Excellence in Texas, Oklahoma and California, Vericrest provides superior service and innovative solutions to meet the needs of our customers and investors while maintaining the highest levels of integrity and compliance. To learn more about Vericrest, visit www.vericrestfinancial.com or call 1-800-401-6587.

Contact

Joele Frank, Wilkinson Brimmer Katcher
Andy Brimmer / Jed Repko / Eve Binder
212-355-4449

SOURCE Vericrest Financial, Inc.