Wells Fargo Laying Off 1,000 Servicing Employees
A decline in the level of distressed residential loans is prompting Wells Fargo & Co. to shut down a servicing center and lay off a thousand employees.
Impac Mortgage Expects Originations To Soar
Home lending activity increased during the final three months of last year at Impac Mortgage Holdings Inc., and business is expected to nearly double in the first three months of this year.
Mortgage Jobs Increase in Q4
Staffing within the mortgage industry expanded during the final three months of last year, with non-bank lenders responsible for much of the hiring activity. Banks saw the biggest mortgage layoffs.
Freedom Mortgage Recruiting in Mid-Atlantic Region
Strengthening demand for its lending services in the Mid Atlantic has prompted Freedom Mortgage Corp. to launch a recruiting campaign in the region.
Hundreds of Mortgage Jobs Eliminated
Some of the biggest players in the mortgage industry have recently eliminated more than a thousand jobs in the aggregate as they adjust to current conditions.
Mortgage Lenders Spread Through New Branches
In recent mortgage branch activity, one recruiter said it was actively hiring on behalf of a lender, and another released a time-saving tool for opportunity seekers. Meanwhile, several lenders built new shops, with some offices serving as the inaugural company foothold in a previously unexplored target market.
Big Hiring Plans at Some Mortgage Firms
While the mortgage industry as a whole recently saw a decline in its population, some firms have been adding hundreds of new jobs.
State Licensed LOs Increase, Bank LOs Down
From the end of 2013 through the end of 2014, the number of state-licensed loan originators rose, while bank registrations declined. California saw dozens of firms lose their licenses.
Supreme Court Sides With LOs in Overtime Lawsuit
The U.S. Supreme Court has ruled against the mortgage industry in a case involving overtime for loan originators.