EMC To Open New Servicing Center

EMC Mortgage Corporation, a Texas-based mortgage company and subsidiary of Bear Stearns, will open a second mortgage servicing site in Irvine, California in May that expects to employ a staff of 250 employees within the next 12 to 18 months, the company said yesterday.

EMC’s new California office will serve as a second site for the company’s servicing operations, currently headquartered in Lewisville, Texas, within the Dallas-Fort Worth metroplex.

“Our new location in California allows us to better serve our customers with additional hours of service in another time zone,� said John Vella, president and CEO of EMC Mortgage Corporation. “Initially, our Irvine office will operate as an operations center for customer service and default management.�

EMC is currently in the process of staffing the new California location with customer service agents and default operations.

“The cornerstone of EMC’s success is a sincere dedication to customer care, and we are seeking those who share that philosophy as well,� said newly-appointed site manager, Eddie Torres, senior vice president of EMC. “We’re in search of talented and enthusiastic people who are ambitious, flexible and looking for a long-term career with a growing company.�

Located at 1833 Alton Parkway, three miles north of John Wayne Airport, the new EMC location in Irvine, California will located adjacent to Encore Credit Corp., a subprime mortgage origination platform. Both companies are subsidiaries of The Bear Stearns Companies Inc.

EMC employs more than 1,900 nationally. For more information, visit http://www.emcmortgagecorp.com.