HUD’s Donovan: This is the worst rental crisis in this nation, ever

HUD’s Donovan: This is the worst rental crisis in this nation, ever

Says administration is very pleased with Johnson-Crapo

The 10 greenest places to live

Happy Earth Day, everyone!

WFC can't keep alleged bogus foreclosure manual out of court

U.S. judge allows discovery on Tirelli's smoking gun

Items Tagged with 'Layoff'


Flagstar posts big loss in shrinking mortgage market

CEO hopes 'to achieve profitability in any mortgage environment'
April 22, 2014
"During the quarter, we made the determination to significantly bolster our loan loss reserve estimates which results in an increase to the loss coverage period from approximately 12 months to 18 months," Flagstar CEO Sandro DiNello said.
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JPMorgan plans 8,000 layoffs

Banks adjust for challenges in mortgage market
February 25, 2014
JPMorgan Chase plans to reduce its mortgage banking headcount by 6,000 in 2014. However, this is still less than the huge layoffs witnessed in 2013.
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Flagstar Bancorp announces mass layoff

Bank to slash 600 positions as part of restructuring
January 16, 2014
The Detroit-based bank, which is no stranger to change, said the reduction is expected to create annualized cost savings of $40 million for the company. The announcement arrives as the firm escapes legacy mortgage issues and refocuses on its future.
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Financial sector continues bleeding jobs

Sector records 60,962 job cuts for 2013
January 9, 2014
Despite overall improvement in the 2013 jobs market, the financial sector took a beating this past year, becoming the industry where employers cut the most. The sector recorded 60,962 job cuts for 2013, up 49% from 41,008 in 2012.
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California mortgage jobs market takes a hit

Two lenders scale back in The Golden State
November 19, 2013
Mortgage jobs are disappearing in California with two major firms — Rushmore Loan Management Services and SunTrust Mortgage announcing layoffs in the state.
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How deep are the layoffs in mortgage firms?

November 4, 2013
The mortgage industry has severed thousands of jobs in the mortgage servicing industry to buffer for the reduction in refinance applications. But just how deep are the wounds?
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Mass mortgage layoffs hit Wells Fargo units in North Texas

125 staff members to lose their jobs in the coming months
October 21, 2013
Banking giant Wells Fargo blames changing market conditions for its decision to cut 125 jobs within two mortgage fulfillment units located in Irving, Texas.
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SunTrust eliminates 800 jobs nationwide

October 18, 2013
SunTrust Banks is eliminating 800 jobs nationwide, as the nation's refi boom peters out, leaving a void in mortgage production demand.
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Workers staying in place is a bad sign for housing

October 7, 2013
Unemployment and housing are inextricably linked. Essentially, those who are employed are more likely to buy homes, but that’s not the entire picture. Those who stay in place too long also reflect a weak job market.
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Housing recovery is a distant delusion

September 11, 2013
One analyst believes that the industry has it wrong, arguing that it is delusional to believe that the housing market is recovering.
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