Ameriquest Mortgage Company Plans Major Servicing Operations Expansion in Illinois

Business Wire, Nov 16, 2004

SCHAUMBURG, Ill. -- Ameriquest and Its Affiliate, Argent Mortgage, Announce Sublease of 300,000-Square-Foot Windy Point II Office Building in Schaumburg. Expansion to Create 2,100 New Jobs

Ameriquest Mortgage Company and Argent Mortgage today joined Illinois Gov. Rod Blagojevich to announce plans for a major expansion of its mortgage servicing operations in Illinois that will create 2,100 new jobs in the Schaumburg area over the next three years.

At a mid-morning press conference announcing the expansion, Gov. Blagojevich and Adam Bass, senior executive vice president of Ameriquest Mortgage Company, said Ameriquest and Argent will be subleasing the entire 11-story, 300,000-square-foot Windy Point II office building at Windy Point of Schaumburg.

Bass said the 2,100 new jobs created by the servicing center will come on line incrementally over the next three years, and will include a range of management and mortgage servicing operations positions. Ameriquest will provide 1,500 of the anticipated new jobs, with Argent Mortgage creating 600 new positions.

Ameriquest and Argent Mortgage are subsidiaries of Ameriquest Capital Corporation, a national financial services company based in Orange, Calif. Ameriquest is a national retail mortgage company and works directly with consumers. Argent Mortgage is a national wholesale mortgage lender that provides consumer loans through independent mortgage brokers.

The company plans to move into its new facility at Windy Point II in January. Windy Point II is part of the Windy Point of Schaumburg professional office campus located at 1500-1600 McConnor Parkway.

"We are pleased to be expanding our operational presence in Illinois and to be contributing new jobs to the Illinois economy," said Bass. "This is an important strategic step in the development of Ameriquest's and Argent's mortgage service platform. We have a long and rewarding history in Illinois, and we are pleased to expand this relationship by bringing a significant number of new quality jobs to the region."

Ameriquest has been doing business in Illinois since 1995, and Argent opened its loan origination center in Rolling Meadows in July 2002. Ameriquest operates 10 branch offices located in Burr Ridge, Oak Brook, Orland Park, Hoffman Estates, Vernon Hills, Naperville, Chicago, Skokie, Westchester and Schaumburg.

"Ameriquest's decision to create 2,100 new jobs is a strong validation of our tireless efforts to ensure economic prosperity here in the Schaumburg area and across Illinois," said Governor Blagojevich. "Illinois has everything a company is looking for when starting or expanding a business -- a highly skilled and educated workforce, tremendous infrastructure, world-class universities and research institutions and a fantastic quality of life."

"Ameriquest chose to expand in Illinois because of the state's growing economy, the presence of a large skilled work force and its business-friendly environment," said Bass. "We look forward to a long-term partnership with the state and the Schaumburg community."

Recruiting for the new mortgage servicing jobs will begin immediately. Interested applicants can apply at www.careers.ameriquest.com and www.argentmortgage.com/careers.

About Ameriquest Mortgage Company

Ameriquest Mortgage Company, headquartered in Orange, Calif., is a national mortgage lender committed to helping people achieve their home ownership dreams and financial freedom. To fulfill that mission, Ameriquest Mortgage originates and services home mortgage loans through more than 270 branch offices across the United States. Ameriquest and its affiliates employ more than 12,000 associates nationwide. For more information about Ameriquest Mortgage Company, visit the company's Web site at www.ameriquest.com.

About Argent Mortgage Company

Headquartered in Irvine, Calif., Argent Mortgage Company is a leading national mortgage lender. The company works exclusively with independent mortgage brokers and bankers across the country through loan processing centers in California, Illinois and New York. For more information about Argent Mortgage, visit the company's Web site at www.argentmortgage.com.