Inside INdiana Business

Ruoff Mortgage announces major growth and addition of 700 new jobs

FORT WAYNE, Ind. (Inside INdiana Business) — Fort Wayne-based Ruoff Mortgage is about to undergo significant staffing growth this year and next. The company says it intends to add another 700 new employees by the end of 2022, with most of those positions based out of its headquarters in Allen County.

The residential mortgage lender says the new positions will include sales, sales support, and information technologists.

This growth is on top of the 215 employees Ruoff added over the past year. The company says its current staffing, including subsidiaries, is approximately 1,000 workers.

Company President and Chief Executive Officer Mark Music says part of the growth is due to internal investments made on its automation and use of AI within its technology platform.

“Those investments have served to boost productivity as well as enhance customer experience, particularly enabling our successful transition to a WFH environment during the quarantine,” said Music.

The company says loan volume doubled as it assisted more than 30,000 individuals and families, measuring $5.6 billion.

Last fall, the mortgage company announced plans to lease space at the future Electric Works mixed-use innovation district to address its growing staff. That announcement came about a year after Ruoff initially said it was going to build a new global headquarters in downtown Fort Wayne.

A company spokesperson told Inside INdiana Business in October 2020, “we are no longer planning to build downtown. We are growing so quickly that there isn’t enough time or space on that site to handle our rapid growth and business needs.”

The privately held company also released some financial data related to its growth. Ruoff says it generated $356 million in revenue last year, which is up $215 million year over year.