Movement invested millions of mortgage profit into Movement Foundation
FORT MILL, S.C. — Movement Mortgage, one of the nation’s top 10 purchase mortgage lenders, originated more than $12.8 billion in residential mortgages in 2017, eclipsing the prior year and setting a new company record for sales volume, despite declining volume industrywide. Movement’s overall investment in its nonprofit foundation also grew to $37 million in 2017, according to the company’s annual Impact Report, which was released today.
The lender headquartered in Fort Mill, South Carolina last year served more than 59,000 borrowers, expanded its footprint to 778 licensed branches and, for the fifth time, made Inc. Magazine’s prestigious list of the 5,000 fastest-growing companies in the U.S., the annual report shows.
Movement in 2017 also made significant investments in its facilities and executive leadership. For instance, it invested $3.1 million to renovate a vacant J.C. Penney that anchored an aging mall, turning it into a state-of-the-art operations center in Norfolk, Virginia that houses more than 550 employees. The company unveiled a new health and wellness platform to spur overall health and fitness for its employees. And it expanded its leadership team to include Chief Commercial Officer Michelle Donnelly and Chief Information Officer Henry Santos.
“In 2017, we set new records for volume, revenue and giving,” says Movement Chief Executive Casey Crawford. “Those things are important. But we define our true success by measuring how those accomplishments impact people.”
That impact is most evident in Movement’s giving to the Movement Foundation, a nonprofit Crawford started in 2012 with the aim of bringing life, light and hope to underserved people and communities. In 2017, Movement Mortgage invested nearly $12 million of profit into the foundation.
In five years, the company has poured a total of $37 million of its mortgage profits into the foundation. In 2017 alone, those efforts culminated in the opening of the Movement School, a tuition-free public charter school serving students in kindergarten through second grade. The foundation also sent relief aid to areas hit by natural disasters and hundreds of thousands of dollars in grants matching employee donations to good works in communities where Movement operates, including half-a-million water bottles for homeless outreach last summer in Phoenix, Arizona.
Movement Impact Report Highlights:
- Loan volume increased to $12.8 billion in 2017, a new company record, despite the industry’s overall volume declining.
- Movement expanded its workforce in 2017 to 4,300 team members. It started with four in 2008.
- Movement added six new Regional Directors in 2017 and 22 new Market Leaders. It plans to add more than 40 such sales leadership positions in 2018.
- Movement opened 106 new branch offices in 2017, bringing its total in 49 states to 778.
- A $3 million operation center investment in Norfolk, Virginia was completed in May 2017, which included the renovation of a department store into a 100,000 square-feet Sales Support Center.
- Since inception, Movement’s employee-funded and company-matched Love Works fund has given $2.5 million to Movement team members in crisis.
- After Movement’s #SaveABillion campaign, 97 percent of employees participated in the company’s 401k program, 62 percent took advantage of its 6 percent match and 28 percent increased their retirement savings contribution.
- Nearly $12 million in profit was invested in the Movement Foundation to support numerous community-building initiatives, including the opening of the tuition-free public charter school, Movement School, which welcomed 300 kindergarten through 2nd graders when it opened in August.
Read Movement’s 2017 Impact Report at www.movement.com/impactreport.