Lender Blames CT Bank Regulator for Layoffs
Overzealous licensing requirements in Connecticut are being blamed for the termination of a home lender's planned headquarters expansion and dozens of layoffs.
Host of Firms Report Mortgage Originations
Residential loan origination data was recently released for a host of small to mid-sized mortgage firms. Included among the companies are several billion-dollar producers. A number of the lenders have grown staffing.
Banks Lose Thousands of Mortgage Originators
Although the yearly ranks of home loan originators who are employed by banks was reduced by thousands, state-licensed loan officer growth more than offset the losses.
Mortgage Jobs Contract Despite Broker Growth
A monthly expansion in the size of the mortgage broker workforce wasn't enough to push mortgage headcount higher. In the overall job market, employers filled more positions last month.
Churchill Mortgage Maintains Originations
Compared to a year previous, quarterly home-lending volume at Churchill Mortgage Corp. has changed little. Hardly any variation was also reported for staffing.
Mortgage Servicer Efficiency Increases
Efficiency at the nation's independent mortgage servicing organizations has improved. Servicer earnings moved higher from a year previous but descended from the preceding period.
Union Says Wells Sending Jobs Overseas
A trade union claims that several hundred mortgage layoffs disclosed last week by Wells Fargo & Co. are being driven by an expansion of its overseas work force.
Originations, Servicing Up at Quicken Loans
New quarterly business moved modestly higher at Quicken Loans Inc., as did the company's mortgage servicing portfolio. No change was reported in company-wide staffing.
Wells Fargo Cutting Over 600 Mortgage Positions
Just three months after notifying 400 mortgage employees that their jobs are being eliminated, Wells Fargo & Co. has advised in excess of 600 more home lending workers they will be laid off.
Mortgage Originations, Servicing Up at HomeBridge
As quarterly mortgage production moved higher at HomeBridge Financial Services Inc., so did the company's servicing portfolio. Headcount, however, was diminished.