At least one mortgage company is looking to hire in Orange County.
EMC Mortgage Corp., a Lewisville, Texas-based company that buys and services residential mortgages, said it would open a site on Alton Parkway in Irvine this May.
EMC, owned by Bear Stearns Cos., plans to employ about 250 people here in the next 12 to 18 months. The company employs 1,900 in total, most of them in the Dallas-Fort Worth area.
The Irvine office will serve as a second site for the company’s servicing operations, primarily for customer service and default management, Chief Executive John Vella said.
EMC counts a loan servicing portfolio of $75 billion.
The new office will be next to that of Encore Credit Corp., an Irvine-based subprime mortgage firm.
Encore was recently sold to Bear Stearns for $26 million, though the lender ended up paying Bear Stearns $7 million to close the deal to cover loans that had gone bad.
