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
Truist Mortgage Chief Moves On October 21, 2022 Paul Muolo Truist ranks 13th overall among originators based on first-half 2022 figures...Read More
This Year, CSBS Expects No LO Renewal Snafus October 21, 2022 Sam Manas The organization also increased the number of servers to 40 from just six last year...Read More
Short Takes: Prepping for Branch Closures / Would You Like to Keep the Copier? / A Stronger Profit for Texas Capital / Coming Soon: loanDepot’s 3Q22 Results October 20, 2022 Paul Muolo Finance of America is preparing to close retail branches outright...Read More
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