Retail lender Ameriquest Mortgage Co. and wholesaler Argent Mortgage Co. have announced the expansion of their affiliated servicing operation in Illinois with the grand opening of a loan servicing center in Schaumburg.The new servicing facility has hired 90 associates to date, and the expansion will ultimately create 2,100 new jobs over the next three years, the companies said. (Argent already employs more than 1,000 associates in Schaumburg.) Ameriquest and Argent are part of Ameriquest Capital Corp., a national financial services company based in Orange, Calif. The companies can be found online at http://www.ameriquest.com and http://www.argentmortgage.com.
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The agency proposed to repeal a regulation that requires FHLBanks to submit formal notices before engaging in new business activities that carry unmanaged risk.
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So far this year, the volume of closed-end second and home equity line of credit securitizations is near last year's $29 billion, Bank of America Securities said.
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The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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