40-Year Mortgages Languish in Bay State
By Andrea Gregory
Massachusetts lenders might not be so quick to jump on the bandwagon of new long-term products such as the 50-year mortgage that some California mortgage companies recently have started to offer. That’s because, according to local lenders, recent experiments with 40-year mortgage products have failed to garner much traction on the East Coast.
Ameriquest Leaving Bay State as Part of Consolidation Plan
By Andrea Gregory
Orange, Calif.-based Ameriquest Mortgage Co. is pulling out of the Bay State, closing all of its local offices as part of a major consolidation. The announcement comes on the heels of a multimillion-dollar settlement between the mega subprime lender and state attorneys general.
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