City of Rochester
News Release
(Monday, Jan. 31, 2011) – Acting Commissioner of Neighborhood and Business Development Bret Garwood and City Councilmember Loretta Scott joined principals Paul V. Scott and Kris Williams today for a ceremonial ribbon cutting celebrating the grand opening of the Foundation Financial Group in downtown Rochester. Scott and Williams are opening nearly 7,000 sq. ft. of office space at 1 S. Washington St. and expect to create 50 jobs in the next 90 days and 50 more by the end of 2011.
“The City of Rochester is very pleased to welcome the Foundation Financial Group and their team to our community,” said Garwood. “This move contributes to our efforts to bring more workers, occupy more office space and make balanced investments on our Main Street and downtown.”
Foundation Financial Group, founded in 1998 in Atlanta, GA, is a full-service, residential mortgage lender and licensed in more than 30 states specializing in refinancing prime mortgage loans, as well as Federal Housing Administration and government-sponsored home loan programs. Providing professional fast-paced, customer-driven service, Foundation Financial Group closes its average loan in 16.72 calendar days, compared to the typical industry time span of about 45 business days. It is one of the nation’s fastest-growing mortgage lenders, according to Business Wire. Rochester is the company’s sixth sales center and will serve customers in New York, New Jersey, Massachusetts and Connecticut. The group operates additional mortgage centers in Charlotte, N.C., Raleigh, N.C., and Savannah, Ga.
“This move to Rochester is key to our growth plans for 2011 and we are excited to have the Foundation Financial Group be a part of this city’s downtown revitalization,” said CEO Mark Boyer. “We are ready to serve customers in the Northeast with greater speed and efficiency than ever before.”
The City’s Neighborhood and Business Development Department provided technical assistance to the company and is reviewing other potential incentives.
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News Media: For more information, contact Bret Garwood at 428-6150.