The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

A real estate professor weighs in on the future of MLSs

According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Mortgage

Wells Fargo lays off 100 mortgage employees in North Carolina

Bank seeks to better align current volumes

Wells Fargo announced its Fort Mill mortgage office will lose 100 employees, according to an article written by Caroline Hudson for Charlotte Business Journal.

The bank claims "market changes” and an effort to “to better align with current volumes” motivated the layoffs, according to Hudson's reporting.

From the article:

"The decision to reduce our workforce is made with great concern for our team members. Wells Fargo Home Mortgage is committed to retaining valued team members and, where possible, we will work to identify other opportunities within Wells Fargo," the bank says in a statement.

Former employees are eligible for pay and benefits through Aug. 19. If they aren't able to find another position at the bank, the employees may be eligible for a continued payment plan based on the number of years employed there, according to Wells Fargo.

In June of this year, Flagstar Bancorp announced it is acquiring 52 Wells Fargo company branches, and extending job offers to 490 team members. These branches are located in Indiana, Michigan, Ohio and Wisconsin.

The sales are a part of Wells Fargo’s plans to reduce its retail bank branches by about 5,000 by the end of 2020 through consolidations and divestitures.

Latest Articles

Existing home sales pop the 2021 housing bubble boys

So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000. Even with the unhealthy home price gains that we have seen in the last two years, more Americans have bought homes with mortgages in 2020 and 2021 than any single year from 2008-2019, and this looks perfectly normal with our current demographics. HW+ Premium Content

Sep 22, 2021 By
3d rendering of a row of luxury townhouses along a street

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