A New York-based residential mortgage servicer is opening a customer support office in Tempe and immediately plans to hire 50 workers.
Valon Mortgage, a tech-enabled mortgage startup, leased space at 1501 W. Fountainhead Parkway, near 23rd Street and Priest Drive. The firm plans to expand to 150 people in the Tempe office within the next year.
“Over the last few years, the mortgage industry has been undergoing transformative changes — with refinances, record low interest rates, and Covid consumer protections, just to name a few,” Shamim Rehman, vice president and director of servicing at Valon, said in a statement. “There’s never been a more exciting time to be a part of it. We are thrilled to be expanding to the Phoenix market and to be growing our team locally, helping our borrowers navigate what is often one of the most significant transactions of their lives.”
Ryan Bartos and Kyle Seeger of JLL represented Valon Mortgage in the lease transaction.
“Tempe has become a destination for financial services companies,” Tempe Mayor Corey Woods said in a statement. “We welcome Valon Mortgage as not only an employer in our community but as a modern mortgage option for our residents. We wish the company great success.”
The expansion to Tempe allows Valon to better serve West Coast clients, the company said.
“Greater Phoenix has become a hub for innovative and entrepreneurial technology-focused companies that are committed to changing the game,” Chris Camacho, president & CEO of the Greater Phoenix Economic Council, said in a statement. “We are excited to be a partner in Valon Mortgage’s continued success and growth here in a region that wants to help startups and all companies succeed.”
Even during the Covid-19 pandemic, Tempe has seen some high-profile office leases. Align Technology, the maker of Invisalign and other dental technology, moved its corporate headquarters to the Watermark in north Tempe, and investing app Robinhood opened a satellite office in the same building. According to CoStar research, Tempe has 470,000 square feet of office space under construction, the most of any Valley submarket.
