BANKING
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Bank of N.Y. Moves Into O.C.: The Bank of New York has moved into Orange County through a mortgage affiliate that plans to take advantage of the continuing real estate refinancing boom.
ARCS Mortgage Inc., which has 60 other branches nationwide, opened an office in Irvine and is focusing on funding home loans that others make, a practice known as wholesale mortgage lending.
Laura S. Hucka, formerly with NVR Mortgage Finance Inc. in Irvine and California First Bank in Newport Beach, heads the new ARCS office. The Bank of New York is one of the nation’s larger financial institutions, with $35 billion in loans and other assets.
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