Advertisement

O.C. BUSINESS PLUS | HEARD ON THE BEAT / FINANCIAL
SERVICES

WestWorks Foresees Loan Boom

April 11, 2000|Edmund Sanders | Edmund Sanders covers financial institutions and fraud for The Times. He can be reached at (714) 966-5811 and at edmund.sanders@latimes.com

Despite the recent sub-prime controversy, one local lender predicts business will continue to boom.

Ron Wilsie, president of WestWorks Mortgage in Santa Ana, said rising interest rates will probably increase pressure on debt-laden consumers and spur an increase in refinancings as consumers turn to sub-prime lenders to consolidate their debts.

Debt consolidation is one of the most common reasons that homeowners use sub-prime lenders, which target borrowers who are turned down by traditional lenders.

Wilsie said the company plans to double the size of its sales force over the next 90 days.

Advertisement
Los Angeles Times Articles
|
|
|