In March 2011, Excel expanded into the pacific northwest of the U.S. by opening a regional production office in Lake Oswego, Oregon, along with other offices throughout Oregon, Washington, and Idaho. Excel hired an experienced senior management team along with regional sales and operational staff for those offices. With this regional production office, Excel has a mortgage origination presence throughout the West Coast and in the Midwest and has plans to open a Gulf Coast regional office in Baton Rouge, Louisiana.The Company was also successful in fully satisfying the $6.6 million outstanding balance of its last remaining significant obligation associated with the previously discontinued non-conforming residential lending operations. The full satisfaction of this obligation results in the termination of all associated covenants, conditions and restrictions.
|For the year ended December 31,|
|Real estate services and recovery fees||22,064||10,148|
|Title and escrow||16,786||7,539|
|Loan modification fees||11,741||17,525|
|Portfolio service fees||5,814||7,064|
|Total mortgage and real estate services fees||$||56,405||$||42,276|