TX Jobs Cuts Bring BofA YTD Mortgage Layoffs to 1,000
Bank of America Corp. is continuing to reduce its mortgage headcount, with the latest round of layoffs in the Lone Star State bringing the year-to-date total to at least a thousand.
Fifth Third Closing Wholesale Division
Just months after cutting back its wholesale lending business, Fifth Third Mortgage is closing down the entire wholesale division. The current regulatory environment was cited.
Mortgage Jobs Plummet
The mortgage industry lost more than 2 percent of its workforce during a single month. The news, however, was better for other U.S. industries -- sending interest rates higher.
Mobile Banking Drives Financial Sector Job Cuts
Although mortgage bankers are among the financial services firms planning to cut jobs this year, a bigger impact is being felt from banks that are responding to a customer shift from branches to mobile banking.
Stonegate Adding Hundreds of Mortgage Jobs
With a recent initial public offering, multiple acquisitions and an expansion of its staff, Stonegate Mortgage Corp. had already established itself as a high-profile growth company. Now the firm has even more growth plans.
Walter Investment Subsidiary Cutting Servicing Jobs
A mortgage servicer owned by Walter Investment Management Corp. is laying of employees in North Texas. The move comes just a month after the unit decided to end wholesale lending.
Walter Originations Down, Servicing Portfolio Up
Quarterly business was down at Walter Investment Management Corp., though the company increased the size of its servicing portfolio. Pre-tax earnings were a mixed bag.
Nationstar Reports Quarterly Loss, Falling Originations
Quarterly production tumbled by nearly a third at Nationstar Mortgage Holdings Inc. and is poised for a further decline. Pre-tax earnings swung to a loss.
Guaranteed Rate Goes On Acquisition Spree
Guaranteed Rate has acquired three mortgage firms in a move that is likely to add hundreds of million of dollars in annual originations.
New Round of Wells Fargo Mortgage Layoffs
A new round of job cuts at Wells Fargo & Co. is being blamed on the continued retreat in originations.