Tag Archives: Industry News

Mr. Cooper announces third round of layoffs affecting 800 workers

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Mr. Cooper, which had 8,200 employees at the end of last year, laid off 250 workers from its lending business during the first quarter and announced another 420 layoffs in June. Continue reading →

Rocket’s profits down 93% as mortgage originations fall

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With rising mortgage rates drastically curtailing lending, Rocket Mortgage saw third-quarter mortgage originations plummet by 73 percent from a year ago, to $23.7 billion. Continue reading →

RE/MAX hangs onto slim profit in Q3 amid housing downturn

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Steep declines in core revenue streams like broker fees were offset partly by the acquisition of independent franchise network RE/MAX Integra, according to earnings data on Thursday. Continue reading →

Zillow sees Q3 revenue dip, but manages to significantly trim losses

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The company brought in $483 million in revenue and suffered a loss of $53 million — an improvement over the Q3 2021 losses of $329 million, according to quarterly earnings results Wednesday. Continue reading →

Finance of America refugees land at Hallmark Home Mortgage

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Hallmark is positioned to become one of the top 100 mortgage lenders with expansion into Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas. Continue reading →

Opendoor lays off 18% of workforce ahead of Q3 earnings call this week

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The cuts affect approximately 550 people, Opendoor CEO Eric Wu said in a blog post Wednesday, and come amid a worsening housing market that has forced layoffs across the real estate industry. Continue reading →

Real estate companies are about to tell us just how bad the downturn is

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Many of the industry’s big companies are about to report their third-quarter earnings. The reports will offer the first in-depth look at how firms coped with a rapidly cooling market. Continue reading →

Haven scores $8M Series A to help mortgage servicers cross market

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The latest funding round, led by Fifth Wall with participation by Fidelity National Financial, RWT Horizons and 1Sharpe Ventures, brings the total funding to date to $13.5 million. Continue reading →