Wells Fargo Cuts 400 Mortgage Jobs
A nationwide round of layoffs by Wells Fargo Home Mortgage will impact 400 employees -- with a majority in two states. Falling loan originations are behind the job cuts.
Union Home Mortgage Culture Maintained Amid Growth
Union Home Mortgage Corp. has managed to more than triple its staffing while in the process preserving the company's culture.
Over Hundred Mortgage Job Cuts at HomeStreet
After eliminating dozens of mortgage jobs in response to diminishing loan originations, HomeStreet Inc. is again cutting its home-lending staff -- this time by more than a hundred. Several branches are also being closed.
Credit Standards Ease as Refi Demand Diminished
As refinances continue to diminish, home lenders continue to relax credit standards. With the ongoing outlook for profits still weak, firms are feeling pressure to cut staffing.
MSR Gains Drive Up Mortgage Servicing Income
Gains from mortgage-servicing rights helped the nation's servicers earn more during the latest quarter. Productivity substantially deteriorated, though, from a year ago.
Huge Profit, Increased Lending at Ditech
Fresh out of bankruptcy, Ditech Holding Corp. reported a huge profit and a quarter-over-quarter increase in home lending. The servicing portfolio, however, was diminished.
Record Hirings, Lending Expected at Guaranteed Rate
Guaranteed Rate Inc., which has seen its headcount grow by more than a thousand people over the past three years, expects to hire a record number of new employees this year to handle expected record originations.
Another Round of Movement Mortgage Layoffs
For the second time this year, Movement Mortgage LLC is conducting a round of layoffs. The latest job cuts are tied to production. But the home lender still maintains its plans to expand.
Broker Jobs Off Despite Rise in Mortgage Headcount
New government data indicate U.S. employment was strong last month. In the mortgage industry, overall staffing expanded even though broker count fell.
40-Year-Old Home Lender in CA Closes Down
A mortgage banking firm out of Northern California that was founded nearly four decades ago reportedly laid off all of its employees and ended lending operations.