Mortgage Company Layoffs? Yes. WARN Act Filings? Not So Much November 17, 2022 Paul Muolo There seems to be a bit of confusion in the industry regarding when mortgage bankers need to register layoff notices with the states.Read More
CrossCountry Circling Angel Oak’s Branches November 11, 2022 Paul Muolo Among originators, CrossCountry ranks 19th overall, according to Inside Mortgage Finance...Read More
Non-QM Giant Angel Oak Exits Retail, Will Focus on TPO November 10, 2022 Earlier in the week, sources informed Inside Mortgage Finance that Angel Oak was about to make a change regarding retail...Read More
Huge Layoffs for loanDepot and the Risks Involved November 10, 2022 Paul Muolo loanDepot's CEO is Frank Martell, an industry veteran who has a reputation as a fierce cost cutter...Read More
Mortgage Lenders Chopped 8,200 Jobs in September; Non-QM Shop Athas Closes November 8, 2022 Paul Muolo Compared to a year ago, firms characterized by the BLS as “real estate credit” have shed 35,700 workers.Read More
(At Least) Five Nonbanks in Talks With FoA Over Its Branch Network November 3, 2022 Paul Muolo One CEO confirmed a deal has been struck with FoA...Read More
WARN Act Violations Cited in FGMC Bankruptcy Case November 1, 2022 Paul Muolo The information is based on an amended declaration made by CEO Aaron Samples...Read More
LO Headhunting Continues Unabated (Somewhat) November 1, 2022 Paul Muolo Hiring more loan officers, now? Mortgage bankers, at times, can be an optimistic lot....Read More
Finance of America Says Restructuring Could Cost Upwards of $164 Million October 24, 2022 Paul Muolo In the third quarter, FoA funded an estimated $2.6 billion of mortgages, 66.7% of it through retail means.Read More
Coming Soon: Layoffs and Branch Closings at Finance of America October 21, 2022 Paul Muolo FoA recently sent a “branch offboarding information” form to all its branch managers, setting the table for large-scale cutbacks.Read More
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