Second-mortgage lender Spring EQ has been named by a leading real estate finance publication as one of the 50 best home lenders — including first mortgage companies — to work for.
Radnor, Pennsylvania-based Spring EQ came in at No. 46 on the 2023 Best Mortgage Companies to Work For ranking, an announcement Monday indicated.
National Mortgage News provided the ranking based on a survey of at least 40 percent of Spring EQ’s 448 employees and an employer questionnaire.
“Spring EQ is a home-equity specialist launched five-plus years ago that has worked with a network of banks, credit unions and Wall Street investors to help its customers find competitive financing in a variety of market environments,” NMN wrote.
The report indicated that while home-equity employees require a different mindset than first-mortgage staff, Spring EQ tries to leverage related experience of those with first-mortgage backgrounds while helping them understand that smaller second-lien transactions need to be more cost efficient to originate.
“Despite some of the recent challenges in the mortgage industry, Spring EQ has continued to build a rewarding environment committed to diversity and inclusion, professional development and excellent benefits for our talented and hardworking employees,” Spring EQ CEO Jerry Schiano stated in the news release. “We look forward to the year ahead.”
Spring EQ ranked as the 18th biggest originator of home-equity lines of credit during 2022.