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 bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
September 12 -
Lenders may not be able to fully respond to the broader government-sponsored enterprises' rollout of VantageScore 4.0 yet but there is one thing they can do now.
September 11 -
Sellers are easing demands as rates hit 15-month highs, giving buyers leverage. Originators: target sideline buyers before next week's Fed hike lifts rates further.
September 11 -
The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.
September 11 -
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
September 11 -
Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
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