ACC Capital Holdings, Orange, Calif., laid off hundreds of retail and wholesale workers Thursday at affiliates Ameriquest and Argent Mortgage, consolidating its consumer call-center operation into just one location.A source inside the once high-flying subprime giant told MortgageWire that the job losses total close to 3,000. A company spokesman declined to comment. The spokesman said the only retail call center remaining will be the Orange, Calif., location. Previously, there were four sites. (For more details, see the March 19 issue of National Mortgage News.)
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The national delinquency rate rose 15 basis points to 3.5% last month due to a calendar anomaly, marking a 4.5% month-over-month incline and 9.4% annual change.
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ICE launched a fraud detection tool for underwriters, Newrez partnered with Matic and Rate announced a free home equity monitoring tool this month.
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Nearly one-third of states now have official nonbank standards for liquidity, capital and corporate governance that firms over a certain threshold must meet.
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KBW now rates UWM as outperform, and BTIG calls the stock a buy, but both cite high leverage levels and industry macro trends depressing its stock price.
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If approved, the deal can provide relief for the approximately 662,000 individuals affected by an incident at the mortgage vendor last November.
June 26 -
Properties outside of the 100-year flood zone exposed to $375 billion to $1 trillion in losses, Moodys reports
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