Bay Equity Taps Philip Mikolaj to Open, Run New Operations Office in Portland, Oregon as Firm Increases Focus on Pacific Northwest

PORTLAND, OR--(Marketwire - Oct 24, 2011) - Bay Equity Home Loans, a respected and successful mortgage lending institution based in San Francisco, announced today that it is opening a new office in Portland, Oregon under the direction of Philip Mikolaj, Director of Information Technology for Bay Equity.

Mikolaj, who has lived in Portland for 15 years, joined the Bay Equity staff earlier this year and brings an impressive track record in information technology and senior level management to the firm. His background includes creating state-of-the-art IT systems for fast growing mortgage companies and start-ups. He has also been responsible for deploying mortgage banking software systems at more than 100 mortgage banking institutions nationwide.

"Phil Mikolaj has a unique skill set not often found among information technology experts," said Jon McGovern, Managing Director of Bay Equity. "He's equally talented in the areas of general business management, mortgage, and banking operations, and IT design and application. And on top of that, he's a great communicator."

"We are committed to growing our brand in the Pacific Northwest and this is a great step towards supporting our customers from an IT perspective. Additionally, this location will then develop into a new operations center for our company," said Brett McGovern, President of Bay Equity. "Bay Equity is putting tremendous resources towards IT applications that will continue to ensure we are well prepared for further growth."

The new office in Portland will serve as the hub of Bay Equity's corporate information technology resources. The office will grow as it adds support staff necessary to serve the company's Pacific Northwest operations.

Bay Equity is a full-service wholesale and retail mortgage lending institution founded in June 2007 and headquartered San Francisco's Financial District, one of the very few mortgage lenders actually located in the City by the Bay. Bay Equity also has operations centers in Pleasanton, California and Portland, Oregon and more than a dozen retail branch offices on the West Coast. In addition, Bay Equity has wholesale account executives covering the 10 Western States. To date the firm has funded more than 9,000 home loans totaling more than $3 billion and has grown to more than 190 employees. To learn more about Bay Equity, please visit our Web site at www.bayeq.com.