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October 22, 2009

Olympic Northwest Mortgage

Silverdale-based Olympic Northwest Mortgage has started the transition to become Network Mortgage Services. Walt Bailey is branch manager for Network Mortgage and principal with Olympic Northwest. In a press release, Bailey said in late 2008 he and business partner Kay Arnold saw that regulatory changes caused by the national mortgage meltdown were going to make it extremely difficult to continue to operate as usual. Olympic Northwest became a division of Network Mortgage in April. Bailey says the percentage of loans originated by mortgage brokers has dropped from nearly 80 percent a few years ago to less than 20 percent today. Network Mortgage originates loans in multiple states through a retail loan center, six branch offices, and a wholesale lending channel.




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