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
While growing loan servicing business remains profitable, according to Q3 earnings, paper gains on servicing rights could evaporate if interest rates fall and borrowers refinance out of portfolio. Continue reading
Citing impact of rising rates on mortgage originations, Mr. Cooper laid off 250 workers during the first quarter, with more reductions in store. Continue reading
Google Cloud rolled out Lending DocAI in preview mode last fall with Roostify, a provider of digital mortgage solutions to lenders, on board as a strategic partner. Continue reading
A coalition of real estate and banking trade groups is calling on Congress to help banks with liquidity as they allow homeowners to forbear their mortgage payments. Continue reading