WestWorks Foresees Loan Boom
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.
