Ameriquest Mortgage Co. and Argent Mortgage, both subsidiaries of Ameriquest Capital Corp., have announced plans to expand their mortgage servicing operations in a move that will create 2,100 new jobs in the Schaumburg, Ill., area.Ameriquest said it will be subleasing an 11-story, 300,000-square-foot office building for the expansion and that the 2,100 new jobs will come online incrementally over the next three years. Ameriquest Mortgage, headquartered in Orange, Calif., is a retail lender. Argent Mortgage, based in Irvine, Calif., is a wholesale lender that works with independent mortgage brokers.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
6h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
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Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24