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Foote Capital Mortgage expands services, plans expansion

By - Last modified: January 28, 2013 at 11:41 AM

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Carlisle-based Foote Capital Mortgage Co. has converted from a mortgage brokerage to being a mortgage banker and is planning to expand, the company said.

With its new status, "Foote Capital will now issue loan disclosures in its name and fund its own loans," the company said in a statement.

The conversion had been envisioned since the company's founding in 2006, President Shaun Foote said. Planning in earnest for the change started about a year ago. The company received its mortgage banking license early this month from the Pennsylvania Department of Banking and Securities, he said.

Meanwhile, Foote Capital recently bought a building at 19 N. Hanover St., the former home of the Carlisle Arts Learning Center, just around the corner from Foote's current space at 3 E. Mulberry Ave.

The arts center is relocating to West Pomfret Street. Foote Capital plans to move to North Hanover Street by the end of the year, Foote said.

Business was up more than 60 percent in 2012, and 2013 is off to a strong start, he said. The company has six employees and is looking to hire "a few more" during the year.

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