Ocwen Financial Owned Liberty Reverse Mortgage Has Record Losses In 2nd Quarter. Executives at Liberty Reverse Mortgage owner Ocwen Financial are worried. Why? Ocwen says the reverse mortgage unit recorded a pre-tax loss of $26 million in Q2 2022. This is in comparison to a profit
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Rocket Companies Says Profits For Rocket Mortgage Plunged In Second Quarter. CEO Threatens Layoffs If Things Don’t Improve Rocket Companies, the Rocket Mortgage say the mortgage company’s profits plunged in the second quarter. They claim this is due to rising interest rates and inflation. Therefore, this
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Sources Say New American Funding Eliminated Loan Officers, Processors And Underwriters In Another Lay Off Sweep Former employees say New American Funding has laid off hundreds of employees on Tuesday. New American Funding eliminated several hundred positions. The company laid off loan officers and underwriters. In
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PennyMac Financial services Has Cut Nearly 500 Jobs Since March Mortgage lender Pennymac Financial Services has laid off an additional 32 employees in July. PennyMac has laid off a total of 475 employees since March 1st. This is the California-based company’s third round of layoffs this
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Massive Wall Street Layoffs Of Junior Bankers Is Imminent As Banking Giants See Profits Plummet Wall Street spent the past year acting like the financial bulimics they are. They spent the past year binging on bankers and now they are leaning over the world toilet ready
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Mortgage Applications Plummet To 22-Year Low As Home Sales Drop 14% From A Year Ago. Mortgage applications have hit a 22-year low demand for homes is drying up. This is due to raising interest rates soar and plunging home sales. The lending industry is pointing the
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Bank of America Reports Mortgage Originations Are Down 11.5% In Second Quarter Bank of America reports that customers haven’t slowed down their activities despite a fear of a recession. In addition. Bank of America reported that deposits have grown to a record level above $1 trillion.
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JP Morgan Chase Executives Panic As Mortgage Originations Continue to Free Fall JPMorgan Chase leaders continue to panic as mortgage originations continue their free fall. It’s not pretty for JPMorgan Chase as mortgage originations continue to free fall. This is after the bank laid off hundreds
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Lender Implode 2.0 – The Latest List Of Lender Implosions And Layoffs. This List Is Updated Daily! Lender Implode 2.0 tracks the mortgage lenders who have imploded or are showing the signs of imploding. The list also contains the companies that have had mass layoffs or
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The Fix-And-Flip Lender Eliminated 39 Positions To Ensure It Can Survive Through 2023 Fix-And-Flip lender Kiavi has laid off 7% of it’s employees. Kiavi specializes in fix-and-flip and investor loans. An email sent to employees on Wednesday morning said Kiavi wanted to, “reduce our cost structure
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