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Farwest Residential Services

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April 19, 1990 | James S. Granelli, Times staff writer
While FarWest Savings in Newport Beach is struggling to comply with new thrift rules, the mortgage banking division it spun off in January is moving ahead with an aggressive growth plan. FarWest Residential Services in Irvine plans to double its mortgage sales force to 110 employees and expand its nine offices into Central California, said Cliff Piscitelli, the company's president. The company has about 150 additional employees, mainly handling its $1.65-billion mortgage-servicing portfolio.
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BUSINESS
January 18, 1991 | John O'Dell Times staff writer
What's in a name? Not much when it's a name connected with a failed business. At least that's the thinking of the owners of FarWest Residential, a mortgage company once owned by FarWest Savings & Loan Assn. FarWest S&L was declared insolvent and seized by federal regulators last week, and now FarWest Residential says it will be called Frontline Mortgage Co. Cliff Piscitelli, the mortgage company's president, and Wendell C.
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BUSINESS
January 18, 1991 | John O'Dell Times staff writer
What's in a name? Not much when it's a name connected with a failed business. At least that's the thinking of the owners of FarWest Residential, a mortgage company once owned by FarWest Savings & Loan Assn. FarWest S&L was declared insolvent and seized by federal regulators last week, and now FarWest Residential says it will be called Frontline Mortgage Co. Cliff Piscitelli, the mortgage company's president, and Wendell C.
BUSINESS
April 19, 1990 | James S. Granelli, Times staff writer
While FarWest Savings in Newport Beach is struggling to comply with new thrift rules, the mortgage banking division it spun off in January is moving ahead with an aggressive growth plan. FarWest Residential Services in Irvine plans to double its mortgage sales force to 110 employees and expand its nine offices into Central California, said Cliff Piscitelli, the company's president. The company has about 150 additional employees, mainly handling its $1.65-billion mortgage-servicing portfolio.
BUSINESS
April 12, 1991 | From a Times Staff Writer
Frontline Mortgage Co. has acquired servicing rights for $800 million in real estate mortgages and is positioning itself to become one of the larger independent regional companies that bill and collect mortgage payments. The private mortgage banking firm in Irvine would not say how much it paid to buy the servicing rights from FarWest Savings & Loan, the Newport Beach thrift that regulators seized in January.
BUSINESS
December 20, 1989 | JAMES S. GRANELLI, TIMES STAFF WRITER
In the first major step to downsize operations, FarWest Savings & Loan said Tuesday that it has sold its mortgage banking division to the two managers who built the unit up over the last five years. The thrift's nine loan-origination offices throughout the state will become part of FarWest Residential Services on Jan. 2, said Wendell C. Shirk, the new firm's executive vice president. The cost of the deal, which was agreed to on Dec. 4, was not disclosed.
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