Carlsbad-based BluFi Lending, a direct lender for home loans, opened up shop in the Las Vegas market.
The expansion, which represents the company's first branch office outside of California, enables BluFi to provide purchase and refinance home loans to consumers living in Nevada.
The new facility is BluFi's sixth branch office and will serve as the retail home loan division in Las Vegas.
Managers recruited 12 new employees to staff the office and have plans to double that number in the next year. The office is located near Red Rock Casino Resort and Spa.
The move is a reflection of the growing demand for home loan services in the Las Vegas region. The decline in home values has made homes more affordable and caused a surge of new buyers. The most recent figures on record show 4,000 home purchases in July in Clark County.
"This move demonstrates our commitment to the market," said John Lee, BluFi president and CEO. "Some companies would consider this area too tough, but we see the need, and we're dedicated to providing outstanding home loan lending to the Las Vegas community."
The company works with real estate professionals and borrowers to close most home loans within 21 days of a completed application, according to BluFi.