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LoanCare to expand in Va. Beach, create 178 jobs

VIRGINIA BEACH, Va. (AP) -- LoanCare is planning another expansion of its regional office in Virginia Beach that will create 178 jobs over the next three years.

The Virginia Beach Economic Development Authority announced the expansion Tuesday. The authority awarded an $80,000 grant to LoanCare for workforce development and employee training.

The expansion will add 19,032 square feet to the office. It was previously expanded in October 2010 by 9,590 square feet.

LoanCare plans to invest $1.1 million in the expansion. Facility build-out costs will total $320,000.

The new positions are expected to pay an average $37,500 annually, excluding benefits.

LoanCare provides full-service, subservicing and interim subservicing to the mortgage industry. It's a wholly owned subsidiary of Fidelity National Financial.