Synovus mortgage unit booming

Addition of Fifth Third team brings staff to 18

The Bank of Nashville has recruited a team of seasoned mortgage lenders from Fifth Third Bank as part of a big growth push in a housing market that is set to pick up steam in 2013.

The local division of Georgia-based Synovus Financial a month ago brought on board Christian Poling, Glenn Kraft, William Burke and Justin Lee. The hires bring to 17 the number of people reporting to Head of Mortgage Banking Jeremy Davis, who joined the company from Fifth Third in February as local division employee No. 3.

Davis' new additions average 13 years of experience in the mortgage field and all will work from the bank's main office at Fourth Avenue North and Church Street. Davis, pictured at left, said his team also has originators in nine of The Bank of Nashville's 10 area branches.

Mortgage lending has been a priority across Synovus' Southeastern footprint. Through the first nine months of this year, the company originated almost $900 million in home loans held for sale, an increase of 34 percent from a year ago. Mortgage banking income in that time jumped 50 percent to $23.2 million.

Acknowledging that many consumers have been frustrated in recent years about the relative scarcity of credit and the slower processing of loans, Davis said one of his major priorities this year has been to build an organization with a "level of service the general public thinks is not possible anymore in mortgage lending." So far, so good: The Bank of Nashville is on track this year to roughly triple the $50 million in loans it originated in 2011. Once Burke, Kraft, Lee and Poling — their photos are below in that order — hit full speed, Davis said his team's annual run rate will get much closer to $200 million.

"It's really going to push up our growth rate. It's a lot of fun when you're in these growth phases," said Davis, who also helped the former Washington Mutual build its Middle Tennessee operations about a decade ago.

Looking ahead, Davis said he wants to continue to add originators in a "purposeful" way and is making sure his team is well positioned to take advantage of the expected rise in demand for loans for purchase. About half of The Bank of Nashville's 2012 business has been in refinancings, but Davis said the home construction market is showing a pick up that bodes well for the spring and beyond.