CHARLOTTE, N.C. (AP) - A direct mortgage lender will expand its Charlotte operations by adding 500 jobs over the next five years and investing about $5.8 million into its operations hub.
Intercontinental Capital Group, a privately held company headquartered in New York, plans to begin hiring for the jobs next year, according to a Tuesday news release from North Carolina Gov. Roy Cooper’s office. It currently has 179 employees at its Charlotte office.
The company could receive nearly $7.7 million in incentives from the state over a 12-year period if it meets certain requirements for job creation and investment.
Charlotte won the expansion after competing with Indianapolis, Indiana and Richmond, Virginia for the company’s investment, according to state documents obtained by The Charlotte Observer. Dustin DiMisa, the founder and CEO of the company, told the newspaper he felt the mortgage lender would better attract and retain talent in North Carolina.
The lender specializes in single-family residential properties. They were previously censured and fined by different states for practices regulators said were misleading, the newspaper reported. DiMisa said the company is now “extremely compliant” with marketing regulations.
The mortgage lender, DiMisa and another former executive were also sued by the U.S. Department of Justice in 2015. A news release from the agency said it was for their role in a fraud scheme that was perpetrated by a charity and included other mortgage lenders. They settled for about $400,000.
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