Mortgage bankers must have great faith in Orange County real estate because more of them are moving into the county.
TCS Mortgage Banking, a wholly owned subsidiary of TCS Enterprises in San Diego, is the latest to cross the county line. Its new Mission Viejo office is a "natural extension," since the firm deals with many developers who are building new homes in the county, said Rick Jarrett, president of TCS Mortgage Banking.
"Orange County is a very hot marketplace, and we felt it was important to be on the front line," he said.
The company has moved in ready for the competition, said Thomas C. Stickel, head of the parent company.
"Orange County is particularly attractive to us because we believe that through our services, we can present loan programs that are not available yet in the county," Stickel said. "We have developed a base of 150 banks and savings and loans and pension funds across the nation ready to lend money to Orange County home buyers."
Formed in 1983, the subsidiary funded $191 million in new loans in the fiscal year ended Oct. 31.