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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Serious delinquency transitions in older mortgages inched up, hinting at the impact of an FHA rule change's impact in conjunction with other stressors.
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The Senate voted 54-45 to confirm Kevin Warsh to lead the central bank. Warsh will take the reins from Jerome Powell, who said he will remain on the Federal Reserve Board.
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While not looking to take on UWM and Rocket, GO Mortgage CEO Jay Promisco said mortgage brokers want and need more options for their production.
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Built around the company's guidelines, Rezi Mortgage Assistant helps borrowers learn about the lending process on their own terms, Newrez executives said.
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The MBA's Market Composite Index found mortgage applications rose 1.7% on a seasonally-adjusted basis from one week prior for the period ending May 8.
May 13 -
The announcement comes following an Institutional Shareholder Services report which urges shareholders to vote no on the CrossCountry Mortgage transaction.
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