Ameriquest Closing 229 Mortgage Lending Offices and Laying Off 1/3 of Workforce
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Ameriquest, one of the largest mortgage lenders in the subprime market, is shutting down 229 branch offices and laying off 3,800 employees in a drastic restructuring. The layoffs compose a third of the workforce and is designed to allow the company to remain competitive is a slowing mortgage environment.
Ameriquest is the nation’s largest subprime mortgage lender. It said it was centralizing its network of branches into offices in California, Arizona, Illinois and Connecticut but would continue to offer lending services nationwide.
It said the changes would not affect its ability to adhere to the terms of a $325 million multistate settlement reached this year with state attorneys general over claims of deceptive lending practices. via Chicago Tribune.
Am I the only one that finds it odd that the ONLY place that looks to be seriously warming is ...
It seems there are numbers posted about how much it could cost the US in home sales from people holding ...
The only people holding off will be those that are financially secure and can manage to hold off. How ...
What an awesome way to generate traffic for a story. Were they trying to time that for Sweeps Week? ...
That's awful. I wonder if using that tactic , if a building can be sold or used as collateral. ...
Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy. 
wow this is a wonderful creation...............i would like to be there once even in my life time........... 
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I will say that had I never been to that site and seen Dean's many deals that he documented and ...
Great Real Estate
post ... very interesting. 
Comment by Joe B on 18 January 2008:
Our Loan Compliance Advisory Group is committed to helping “Protect The American Dream.” We are dedicated to helping Homeowners Nationwide, that may be victims of Deceptive Lending Practices.We are open for any suggestions on how we can help. Please contact Joseph Bisogno at (800) 529-7184 or visit our web site at: http://www.loancomplianceadvisorygroup.com
Several members of our Loan Compliance Advisory Group attended the “March on Wall Street.” We support the “Save Our Homes/Restructure Loans” important message that Rev. Jackson and his dedicated coalition members are spreading across America. The December 10, 2007 rally, one of several recently held across the United States, sponsored by Rev. Jessie Jackson’s Rainbow PUSH Coalition, the National Association for the Advancement of Colored People and the Urban League, was a magnificent well planned; and informative event.