The expansion represents a $500,000 capital investment in IT equipment, furniture and other items. The additional payroll from the expansion, including benefits, totals $5.9 million. The company has expanded its portfolio to include performing accounts. It currently manages about 72,000 loans with an overall value of $11 billion.
Selene Finance would create jobs for mortgage resolution specialists and case management professionals. Existing employees handle loan resolution activities, collections, legal/compliance, training and customer service functions. The company would pay an average salary of $48,813 and almost double its current workforce of 119 employees.