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August 29, 2018

KeyBank ramps up its residential mortgage business

Courtesy / KeyBank
Courtesy / KeyBank
KeyBank has appointed Stephen F. Jordan as vice president, mortgage market manager, as part of a ramping up of its New England sales team to better serve clients seeking to buy homes in Maine and Vermont.

About KeyBank

KeyBank is one of the nation's largest bank-based financial services companies, with assets of approximately $137.8 billion as of June 30, 2018. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,200 branches and more than 1,500 ATMs. It also provides corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. KeyBank is a member of the FDIC.

Key Bank has appointed Stephen F. Jordan as vice president, mortgage market manager, as part of a ramping up of its New England sales team to better serve clients seeking to buy homes in Maine and Vermont.

The bank announced in a news release that the New England expansion is part of its nationwide focus on growing its residential mortgage business, which has resulted in the addition of more than 200 new mortgage loan officers across the country. The bank also stated that it's offering "highly competitive lending programs" and a "more robust technology platform" in its bid to grow its mortgage business.

KeyBank said Jordan has expanded the Maine and Vermont sales force as part of that national effort.

"KeyBank is essentially building a new mortgage company from the ground up, and I am excited to lead the effort here in New England," said Jordan. "Locally, we have tripled our sales team to 16 highly experienced mortgage loan officers serving homebuyers across the region, and have introduced new mortgage programs to help first-time and repeat homeowners successfully buy homes."

Among the new programs being offered:

  • A "community mortgage" program, which offers fixed rate, 100% financing with no private mortgage insurance requirement for qualified low- and moderate-income homebuyers, and for buyers at any income level wanting to buy in U.S. Census low-and-moderate-income-tract neighborhoods.
  • A "medical professional loan" program offering 100% financing with no private mortgage insurance requirement to physician, veterinarian, and dental practices.

"It's a challenging housing market in this region, with high demand from buyers and low inventory — especially in the under-$350,000 price range," said Jordan. "The good news is construction is booming with new housing development and revitalization projects in many communities, rates remain favorable, the economy is doing well, and more people are in the position to buy. We currently have over $52 million in pre-approved mortgage applications. All signs point to strong mortgage growth in this market."

Jordan joined KeyBank Mortgage from Bank of America, where he was regional sales manager leading mortgage teams in Maine, New Hampshire and Vermont. Prior to that, he owned his own mortgage company, Northstar Mortgage in Windham. He graduated from University of Southern Maine and lives in North Windham.

KeyBank's New England team www.key.com/mortgage of 16 mortgage loan officers are located throughout the region, serving clients through Key's 49 branches in Maine and 11 branches in Vermont.

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