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Northeast Wholesaler Adding 100s of Jobs; Employment News from MortgageDaily.com

Mortgage Daily

Published On: November 28, 2005

Northeast Wholesaler Adding 100s of Jobs; Employment News from MortgageDaily.com

DALLAS, Nov. 28 /PRNewswire/ — A subprime wholesale lender’s expansion into the Northeast will create hundreds of loan processing and sales jobs, according to MortgageDaily.com, the dominant online news source for the mortgage industry.

As part of a footprint extension plan, ResMAE Mortgage Corp. recently announced it opened a regional loan processing center in Edison, N.J. The center will house up to 200 new employees who will provide loan processing services, including setup, underwriting, appraisals and funding, a company spokeswoman told MortgageDaily.com. In addition, ResMAE will hire 150 outside sales employees throughout the region, another company spokesman said in an e-mailed statement.

New Century Financial Corp. plans on hiring hundreds of new employees in Southern California. A new office with capacity of 700 enables the division to nearly double staff, according to a spokeswoman for the Irvine, Calif.-based lender.

But not all the employment news is good for the mortgage industry.

Ameriquest Mortgage Co. recently laid off about 10% of its 15,000-plus workforce, a spokesman told MortgageDaily.com. The layoffs were reportedly spread throughout the nation, but details about specific jobs were not disclosed.

Also cutting staff was Wendover Financial Services Corp. The layoffs were the result of a strategic decision to exit the reverse mortgage servicing, a spokeswoman for the Greensboro, N.C.-based servicer said.

The recent layoffs, however, haven’t stopped the real estate finance industry from employing a record 529,300 as of September, according to data from the Department of Labor.

A lawsuit filed against E-LOAN alleges that African-American, Latin and gay employees regularly and publicly faced the ire of an E-LOAN supervisor. The plaintiffs claim they complained to higher-ups about the abusive behavior, but the company failed to take action. An E-LOAN spokeswoman said it was “inappropriate” to comment on pending litigation.

Read complete mortgage employment news coverage at https://www.mortgagedaily.com/MortgageEmployment.asp

About MortgageDaily.com
Founded in 1998, MortgageDaily.com is the dominant online news source for the mortgage industry. More than a half million mortgage business news pages are viewed monthly at MortgageDaily.com and its affiliates, http://www.MortgageChronicle.com, a free mortgage industry publication; http://www.MobileMortgageNews.com, which provides trade news for portable devices; http://www.CloserBlog.com, with stories about selling more; and www.FraudBlogger.com, which chronicles mortgage fraud crime cases. Business Week magazine featured MortgageDaily.com in an article about its sensational news coverage.

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Source: MortgageDaily.com

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