Items Tagged with 'layoffs'

ARTICLES

  • Gateway Mortgage shuttering California branches, laying off dozens

    Oklahoma lender closing all 8 California retail branches
    Over the course of the year, thousands of people working in the mortgage business have been laid off as rising interest rates drive mortgage originations lower and the economics of the mortgage business become tougher for companies to survive unscathed. Now, Gateway Mortgage Group is joining that list and becoming the latest mortgage company to lay off a number of employees.
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  • Wells Fargo eliminating 900 mortgage jobs

    Cutting approximately 1,000 positions overall
    A few months ago, Wells Fargo revealed that it is planning to cut as many as 26,500 of its employees over the next few years as the bank works to reorganize itself amid the shifting landscape surrounding the financial services industry. And now, the first of those cuts are hitting home, right in the mortgage division.
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  • WATCH: Movement Mortgage CEO explains recent staff layoffs

    "It's a tough market. And we want to play offense"
    When a CEO becomes known for spreading the message of love to his coworkers and clients, it can be hard then to turn around and announce a round of layoffs. But that’s just what Casey Crawford did to his staff this morning, in a very impassioned way. And we have it all on video, first only on HousingWire.
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  • Movement Mortgage to lay off 180 employees

    Company cites slowing loan growth
    For the third time this year, Movement Mortgage is cutting its workforce. Movement announced Thursday that it is laying off 180 of its employees on Friday. In a note from CEO Casey Crawford released Thursday afternoon, the CEO explained that the lender is making this decision “in response to a nationwide downturn in the housing and mortgage market.”
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  • USAA Bank plans to layoff 265 employees in November

    The bank’s real estate lending operations employees will be impacted
    As the mortgage industry continues to navigate a tumultuous market, many are finding ways to offset costs. USAA Bank is just one of the many companies downsizing to stay afloat. The bank recently announced it will lose 265 employees in November.
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  • Wells Fargo expects to cut as many as 26,500 jobs in the next 3 years

    Company reveals planned headcount reduction of between 5%-10%
    It’s been a rough few years for Wells Fargo and the next few years won’t be much better, for as many as 26,500 of the bank’s employees. That’s because the bank announced Thursday that it expects to see a reduction in headcount of as much as 10% of the company’s workforce in the next three years. The company currently has approximately 265,000 employees, meaning as many as 26,500 could be out of a job by 2021.
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  • From HW Magazine

    HOT or NOT September: What's trending in housing right now

    Interest rates, bank earnings, new GSE credit score models and more make this month's list
    Rising interest rates, bank earnings, the FHFA's decision regarding new credit scoring models for the GSEs. Click to see what's hot and what's not!
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  • Wells Fargo to lay off 638 mortgage lending employees

    Layoffs impact employees in four states
    According to a recent report, Wells Fargo announced this week it will lay off 638 of its mortgage lending professionals in California, Colorado, Florida and North Carolina. The big bank said it is attributing the layoffs to market changes.
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  • Trump administration to cut 40 government finance employees

    Looks to cut Office of Financial Research budget by 25%
    The Trump administration announced Wednesday to 40 government employees of the Office of Financial Research they would be laid off. The office, which is charged with identifying looming financial risks, told the employees the layoffs are part of a broader restructuring of the agency.
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