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Lone Peak Lending joins Panorama Mortgage Group

Housing Wire

Nonbank lender Panorama Mortgage Group has added Texas-based Lone Peak Lending to its growing stable of brands. Lone Peak is the fourth lender to join Panorama this year, following the additions of Utah-based Rely Home Loans , Texas-based Prosperity Mortgage and Oregon-based Vision Mortgage Group.

Lending 384
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Texana Bank to trim workforce in California

Housing Wire

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. The layoffs include loan officers, underwriters, processors, post-closing and secondary market staff.

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Pennymac plans to lay off another 207 employees

Housing Wire

California-based nonbank mortgage lender Pennymac Financial Services will lay off 207 additional employees in June and July following a workforce reduction filing of more than 230 employees in March. Layoffs of 190 employees at Pennymac were first reported by National Mortgage News. The company announced it was investing $3.9

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Interfirst to lay off 140 employees

Housing Wire

Six months ago Interfirst Mortgage Co. issued pink slips to over 350 non-commissioned loan officers, a workforce reduction that former workers claimed to represent more than half of Interfirst’s entire staff. The workforce reduction is also focused on mortgage loan production. Presented by: Acra Lending.

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These mortgage lenders have cut jobs in 2022

Housing Wire

It’s a tough time for mortgage lenders. A rapid rise in mortgage rates and a big drop in origination volume has led to thousands of industry job losses over the last six months. Nonbank lenders such as Pennymac , Mr. Cooper , loanDepot , Guaranteed Rate , Fairway Independent Mortgage , Interfirst Mortgage Co.,

Mortgage 409
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Frank Martell talks loanDepot’s restructuring, path to profitability and M&As 

Housing Wire

And not just adding tons of people — that is the traditional model in mortgages. lender in 2022 to 13th in the first half of 2023, per Inside Mortgage Finance estimates. We have a very large contingent of loan officers and branch networks. We don’t hold loans on our balance sheet. We’re stable.

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First American’s Paul Hurst on the allure of big tech ideas

Housing Wire

Given enough capital, you can build a lot of technology. How do you enable these super-powered humans to do more transactions and make more money in the process? SW: We have seen an increasing number of cyberattacks on companies in real estate and mortgage, including First American. As a company, “people first” is our mantra.