Items Tagged with 'layoffs'

ARTICLES

  • Ellie Mae announces layoffs of 10% of its staff

    Completes restructuring after acquisition
    Ellie Mae recently completed restructuring its team after its acquisition by Thoma Bravo, a move that includes the layoff of about 10% of its staff. The company explained those let go are being offered severance packages to help with the transition.
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  • 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.
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  • IBM lays off 310 mortgage servicing staff at Seterus

    Layoffs announced days after Mr. Cooper reveals Seterus purchase
    More than 300 employees working for mortgage servicer Seterus in Durham, North Carolina, will be out of a job come March. The news comes just days after Mr. Cooper announced it had purchased Seterus from IBM in a deal expected to close in the first quarter of the year, and coincides with layoffs in Mr. Cooper's origination channel.
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  • 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.
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  • 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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  • From HW Magazine

    How to improve lending team productivity

    Taking assembly lines back to the basics
    While many lenders think they’re doing just fine with productivity, and processing loans with ‘good enough’ speed and efficiency, the numbers tell quite a different story completely. Through the lens of data, most shops are falling flat.
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  • Brokers prepare to shake up mortgage lending

    Here's why
    Times are tough for mortgage lenders, as evidenced by the multiple layoffs seen across the mortgage industry. But one type of lender is doing fine, even excelling, as others continue to eliminate hundreds of mortgage jobs – mortgage brokers. Here's why.
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