Items Tagged with 'layoffs'

ARTICLES

  • Ocwen planning to lay off more than 2,000 mortgage employees

    Nonbank will close several U.S. facilities
    Ocwen Financial plans to reduce its overall workforce by more than 2,000 employees over the course of this year, as the nonbank moves to reduce its costs after its $360 million acquisition of PHH. According to Ocwen, the company has already laid off 700 employees and plans to lay off 1,600 more by the end of the year, for a total reduction of 2,300 employees.
    Read More
  • Mr. Cooper laying off 109 mortgage employees in California

    Latest rounds of cuts for mortgage industry
    Over the last several months, layoffs have hit companies across the housing industry as the industry works to find solid footing in a shifting mortgage market. One company that’s been growing is Mr. Cooper Group, the nonbank formerly known as Nationstar Mortgage. But, layoffs are about to hit Mr. Cooper, too.
    Read More
  • 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.
    Read More
  • 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.
    Read More
  • 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.
    Read More
  • 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.”
    Read More
  • 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.
    Read More
  • 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.
    Read More
  • 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!
    Read More