Resource Center

Northeast Wholesaler Adding 100s of Jobs; Employment News from

Mortgage Daily

Published On: November 28, 2005

Northeast Wholesaler Adding 100s of Jobs; Employment News from

DALLAS, Nov. 28 /PRNewswire/ — A subprime wholesale lender’s expansion into the Northeast will create hundreds of loan processing and sales jobs, according to, 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 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 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

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


Carmen Garcia
3811 Turtle Creek Blvd.
Suite 700
Dallas, TX 75219


Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator


Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Date with Today’s Latest Rates


Today’s rates starting at


5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at


$200,000 LOAN

Home Equity

Today’s rates starting at


$200,000 LOAN


Today’s rates starting at


$200,000 LOAN