Housing Wire

MAY 23, 2022

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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Loan Officers Human Resources Mortgage Business 397

Housing Wire

OCTOBER 12, 2022

Sacramento, California-based mortgage lender Summit Funding Inc. Todd Scrima, the company’s CEO, founded the mortgage lender in 1995. The company offers conventional, FHA, VA, USDA, jumbo and reverse mortgages. . The mortgage industry has been facing a wave of layoffs since late 2021. The layoff, set for Nov.

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Human Resources Loan Officers Mortgage Development 410

Housing Wire

JUNE 6, 2022

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.,

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Mortgage Loan Officers Lending Human Resources 421

Housing Wire

JULY 20, 2023

Rocket Companies , the parent of Rocket Mortgage , offered another round of buyouts to its employees on Wednesday, a spokesperson confirmed to HousingWire. Amid elevated mortgage rates , Rocket Companies delivered a $111 million adjusted net income loss in the first quarter, following a $197 million loss in the fourth quarter.

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Human Resources Loan Officers Business Mortgage 370

Housing Wire

AUGUST 23, 2023

Guaranteed Rate , the seventh-largest mortgage lender in the country, has laid off hundreds of employees across two rounds of layoffs this month, according to former staffers who were affected. Loan officers were let go in August as well, according to former employees. billion in July, down 30% compared to the previous month.

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Human Resources Loan Officers Project Management Training 285

Housing Wire

MAY 2, 2022

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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Human Resources Loan Officers Retail Training 384

Housing Wire

AUGUST 3, 2022

The most recent layoff came on Tuesday when the California-based lender eliminated several hundred positions, including loan officers, mortgage underwriters, processors and training specialists, multiple former employees said. billion in mortgages in 2021. billion in the first six months of 2022, down 42.7%

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Human Resources Loan Officers Mortgage Training 421

Housing Wire

FEBRUARY 11, 2022

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. According to the Mortgage Bankers Association ’s yearly forecast, purchase mortgage originations are expected to grow by 9% to $1.73

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Marketing Real Estate Agent Loan Officers Advertising 397

Housing Wire

NOVEMBER 24, 2021

His job was to receive and make calls to customers and pass them along to loan officers. “Under a point system, call center employees received demerits in their LoanDepot human resource file if they left their desks for more than 10-minutes per workday,” the lawsuit states. In August of 2021, Dickens resigned.

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Human Resources Loan Officers Retail Mortgage 370

Housing Wire

JULY 1, 2022

Three former employees are suing First Guaranty Mortgage Corporation (FGMC) and financial backer Pacific Investment Management Company (PIMCO), alleging they were discriminated against on the basis of their gender and then retaliated against for complaining. .

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Human Resources Loan Officers Retail Construction 370

Housing Wire

MARCH 7, 2024

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.

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Real Estate Investing Human Resources Technology 431

Housing Wire

FEBRUARY 3, 2023

San Antonio, Texas-headquartered USAA eliminated 130 positions in the real estate lending group amid projections that the mortgage industry will shrink in 2023. in 2021, mortgage data platform Modex showed. of the total volume in 2021, its origination shifted toward purchase mortgages, which accounted for 73.1%

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Real Estate Lending Human Resources Insurance 74

Housing Wire

OCTOBER 4, 2023

Indiana-based First Savings Bank plans to lay off over 100 mortgage employees in the coming months, according to documents filed with authorities in multiple states. News of the plans come as political instability and a strong job market push mortgage rates closer to 8%. In Michigan, 18 will be impacted on Nov.

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Human Resources Mortgage Tenants Lending 441

Housing Wire

AUGUST 21, 2023

Ohio-based lender Union Home Mortgage denied sex discrimination claims made by a former employee whose employment was terminated while she was pregnant. Martin was a loan officer assistant at UHM from March 1, 2021 until “the unlawful termination” on August 11, 2022, according to the suit. UHM originated $1.75 UHM originated $1.75

Loan Officers 370

Loan Officers Human Resources Mortgage 370

Housing Wire

OCTOBER 23, 2023

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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Technology Loan Officers Retail Marketing 421

PennyMac

SEPTEMBER 9, 2020

Putting down 20% of the total home cost isn’t required to obtain a home loan; most mortgage options have much lower minimum down payment requirements. Let’s take a look at the most common types of loans and programs, and examine each of their specific minimum down payment amounts. Mortgage Type. Mortgage Type.

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Insurance Buyers Mortgage Human Resources 36