In Brief: PNC Unit Occupies New Headquarters

In a bid to increase efficiency and accommodate growth, PNC Mortgage Corp. has consolidated operations in a new 200,000- square-foot headquarters.

The move will "reduce costs, create a more effective work setting, and make it easier for customers to do business with us," said Saiyid T. Naqvi, the lender's chairman and one of 735 employees who have moved to the new site.

Most of the operations had been in the Vernon Hills area. Mr. Naqvi said the new offices can accommodate employment growth.

PNC stood as one of the industry's top lenders last year, with $5.4 billion of originations and $38 billion of servicing on 460,000 loans.

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