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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 409
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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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How Blend plans to survive a shrinking mortgage market 

Housing Wire

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. Publicly traded mortgage tech company Blend Labs isn’t changing its strategy to survive a shrinking mortgage market, even though a drop in originations is sapping its revenue stream and forcing it to trim its workforce. And it doesn’t plan to cut prices.

Mortgage 386
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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 417
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FoA cuts workforce amid company restructuring, market downturn

Housing Wire

The layoffs come amid a mortgage market downturn and a larger company restructuring, multiple current and former staffers told HousingWire. ” Like many competitors, FoA’s traditional mortgage business has been affected by higher mortgage rates. . FoA did not respond to requests for comments. . ” . .

Marketing 346
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Guaranteed Rate’s Owning continues layoffs

Housing Wire

a direct-to-consumer mortgage lender acquired by Guaranteed Rate in February 2021 , is planning a workforce reduction amid higher mortgage rates and lower refinance volumes. The layoffs affect mainly mortgage consultants, specialists, and assistants, but it targets underwriting and closing professionals.

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loanDepot appoints Dan Hanson to newly-created executive role

Housing Wire

The mortgage lender has had several changes to its leadership so far this year. In May, the lender promoted Alec Hanson , the company’s senior vice president of production for the West division, to chief marketing officer. In July, loanDepot appointed Darren Graeler as executive vice president and chief accounting officer.