Demystifying direct mail: What mortgage brokers need to know

Mortgage industry employment newsMortgagePress.comMortgage industry employment As part of a footprint extension plan, Brea, Calif.-based sub-prime wholesale lender ResMAE Mortgage Corporation recently 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, according to a company spokeswoman. In addition, ResMAE will hire 150 outside sales employees throughout the region, another company spokesman said in an e-mailed statement. Irvine, Calif.-based real estate investment trust and mortgage finance company New Century Financial Corporation plans on hiring hundreds of new employees in southern California. A new office with a capacity of 700 enables the division to nearly double its staff, according to a spokeswoman for New Century Financial Corporation. But, not all of the employment news is good for the mortgage industry. Orange, Calif.-based lender Ameriquest Mortgage Company recently laid off about 10 percent 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 Greensboro, N.C.-based mortgage servicer Wendover Financial Services Corporation. The layoffs were the result of a strategic decision to exit the field of reverse mortgage servicing, a spokeswoman said. The recent layoffs, however, haven't stopped the real estate finance industry from employing a record 529,300 as of September 2005, according to data from the U.S. Department of Labor. For more information, visit www.mortgagedaily.com.