Acquisition Boosts ARCS’ Portfolio to New Record

ARCS Mortgage Inc., the Calabasas-based mortgage-banking unit of Bank of New York, said its residential-mortgage portfolio had reached a record $10.1 billion.

The growth is a result of Bank of New York’s recent acquisition of National Community Bank of New Jersey.

That acquisition gave ARCS 5,000 new loans valued at $504 million, the mortgage-banking company said.