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While the outlook for much of the economy is still cloudy, the forecast for Irwin Mortgage Corp. remains on the sunny side.
Indianapolis-based Irwin is the sixth-largest residential mortgage lender in the metropolitan area, based on the volume of residential loans closed in 2001. It is the largest locally based firm in its field.
The company's growth has been strong enough to make it necessary to start construction on a new corporate headquarters and national production office in Fishers, which is scheduled for completion next March.
And the future outlook remains just as bright, according to Bob Griffith, Irwin's president and CEO. The long-term housing market remains strong, and the company's emphasis on the first-time buyer market will be particularly beneficial, he said.
Irwin Mortgage dates back to 1944, when it was formed in Indianapolis as the Inland Mortgage Co. By 1981, when it merged with Irwin Financial Corp. of Columbus, Ohio, the company had three offices in the Indianapolis area and had an annual loan volume of $75 million, with a service portfolio of $100 million.
According to Griffith, it was this merger that kicked the now-renamed Irwin Mortgage's growth into gear.
"We're now national," he said. "We have 120 locations in 28 states." In 2001, the company had a loan volume of $9.2 billion and was servicing...