Clear Capital Is Terminating 378 Employees Including 108 In California By Christmas. This Equals 27% Of Its Workforce Techcrunch.com is reporting Nevada based Clear Capital is cutting 27% of its workforce. Clear Capital is one of the biggest real estate valuation and technology firm in the
Read MoreBank of America Mortgage Production Plummeted From $14.5 Billion In The 2nd Quarter To $8.7 billion In 3rd Quarter Bank of America mortgage production plummeted to $8.7 billion in the 3rd quarter. However, it was not all bad news. The bank delivered increases in revenues and
Read MoreJPMorgan Chase 3rd Quarter Profits Plummet 17% But They Still Beat Analysts Expectations JPMorgan Chase 3rd quarter earnings report is full of a mixed news. The bad news is that the bank’s profits plummeted by 17%. Yet, the report indicated the bank faired better than analysts
Read MoreLegal Issues And falling Mortgage Originations Cause Wells Fargo 3rd Quarter Earnings Take A $2 Billion Hit Wells Fargo 3rd quarter earnings continued to take a hit from its legal problems. The slowing housing market also didn’t help. On Friday, the nation’s third-largest bank reported net income
Read MoreHome Flippers See Homes Turn Into Money Pits As Interest Rates Skyrocket And Housing Market Plummets Home flippers have gone into panic mode. Why? They are the latest victims of rising mortgage rates. As result, they have seen their anticipated profits vanish. Home flippers were raking
Read MoreSummit Funding Plans On Laying Off 36 Corporate Employees In Sacramento And 36 Remote Workers On November 23rd Summit Funding plans to make a round of layoffs in late November that will affect 72 employees. The California-based company wrote in it’s WARN filing: “With the demand
Read MoreAngel Oak Home Loans Sent Pink Slips To 57 Employees On Friday After Sister Company Laid Off 75 Employees Two Weeks Ago Angel Oak Companies instituted 57 layoffs at its retail mortgage company, Angel Oak Home Loans on Friday. Two weeks ago, the company cut 75
Read MoreloanDepot Brass Are Getting A Big Pay Raises While Employees Lose 401(k)s. Are Company Executives Cashing Out Before The Company Implodes? It looks like the loanDepot brass are cashing in and sticking it to employees. In an email last week, CEO Frank Martell reminded staffers that
Read MoreKeller Mortgage Does Another Round Of Mass Layoffs. Is The Mortgage Affiliate Of Keller Williams In Trouble? Keller Mortgage conducted its second round of layoffs in 2022. Th company says the cuts were a result of ‘macroeconomic’ conditions. The Ohio-based lender is an affiliate of real-estate franchiser
Read MoreMortgage Applications Hit A 25-Year Low. As A Result, The Market Composite Index fell 14.2% to the slowest pace since 1997. Mortgage as plummeted by 14.2% last week from the week before. The Mortgage Bankers Association (MBA) said this is the slowest pace in 25 years.
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