Tag Archives: Layoffs

Ally Financial’s exit from mortgage will impact Better, HouseCanary

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Ally, which originated $1 billion in mortgages in 2023 through a partnership with Better and is an investor in the company, is laying off hundreds of employees. Continue reading →

Flagstar shedding 1,900 workers, but many could land at Mr. Cooper

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A majority of the 1,200 Flagstar employees being let go in $1.4 billion sale of the company’s mortgage servicing business will be offered the opportunity to transfer to Dallas-based Mr. Cooper. Continue reading →

Side debuts profit-sharing program, lays off staff members

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The PartnerUp Revenue Share program will give agents a cut of Side’s profit if they refer and mentor other agents. The program was one of several announcements the company made Monday. Continue reading →

Redfin lays off nearly 100 Redfin Concierge service employees

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Seattle-based brokerage and portal Redfin laid off almost 100 Redfin Concierge support and sales managers on Thursday. The company said agents will now take the lead on Concierge services. Continue reading →

Eyeing next refi boom, lenders plan to maintain or grow payrolls

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Lending industry leaders surveyed by Fannie Mae see the lack of housing supply as the biggest risk factor in 2024, but most expect refinancing to pick up next year if rates continue to fall. Continue reading →

3rd round of layoffs at Newrez brings 2024 job cuts to 750

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After cutting nearly 500 jobs after Computershare acquisition, lender to eliminate another 277 positions in August, including senior executives in Colorado, Arizona and Florida. Continue reading →

Mortgage rates have more room to fall on 2 new economic reports

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Key Fed inflation metric expected to drop June 28 following unexpected decline in May wholesale prices and jump in jobless claims to highest level since August 2023. Continue reading →

Newrez laying off nearly 500 workers after Rithm acquisitions

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Pending layoffs of 420 Newrez employees in Colorado and 53 workers in Florida follow $1.4 billion in acquisitions as parent company Rithm seeks to diversify beyond mortgage lending. Continue reading →