BANKING/FINANCE
Compiled by James S. Granelli, Times staff writer
The Mortgage Group, a 6-year-old Newport Beach mortgage banking company, has opened an office in the Virginia suburbs outside Washington.
The company, which expects to double its loan volume to $200 million this year, lends money only for the purchase of new homes, said James L. Palda Jr., its president.
The new office is the Mortgage Group’s sixth office nationwide. Palda said the firm is targeting Riverside and Ventura counties for new offices next year.
