M. Wayne Lee, president of Argent Mortgage Co., has been named chief executive of corporate sibling Ameriquest Mortgage Co.Ameriquest Mortgage and Argent Mortgage are subsidiaries of Ameriquest Capital Corp., Orange, Calif. Ameriquest Mortgage is the retail unit, Argent the wholesale. Mr. Lee, who will remain as president of Argent, succeeds Kirk Langs. The company said Mr. Langs is retiring to spend more time with his family and pursue other interests. Mr. Lee became president of AMC Wholesale, the forerunner to Argent, in 2000. He has been with the Ameriquest organization for 20 years.
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This is the second acquisition deal Old Republic has been involved in this year, after selling its title production business in January.
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While expectations that another federal rate cut is on the way next week, other economic trends may be having a larger influence on mortgage lending.
October 23 -
Home loan players are diverting technology budgets to cover back-office operations, after big spending in a downcycle, counter to historical patterns.
October 23 -
Decreased homeowner equity corresponds to recent declining prices reported by leading housing researchers, but tappable amounts still sit near record highs.
October 23 -
In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.
October 22 -
Forbearance or refinancing may help some, workarounds can keep many mainstream loans moving and one type of uncertainty does have an upside for rates.
October 22





