Lending News
Lender Meltdown brings you banking and mortgage lending news from the US and the world! We focus on mortgage lending news and insight from the US and from around the world. Information you need to know before making financing your next home or real estate transaction. We bring you news and information from industry insiders and sources that the mainstream financial media doesn't. Lender Meltdown also has boots on the ground. These "boots on the ground" give us daily and weekly updates of what is going in the field. Our contributors have decades of experience in lending and real estate. That experience gives us the advantage of being able to give information in plain English without all the industry technobabble and industry jargon.
Mortgage Industry Faces More Mass Job Layoffs
Mortgage Industry Faces More Mass Job Layoffs. First Guaranty and Zillow Among Those Slashing Positions. The mortgage industry faces another round of layoffs. First Guaranty Mortgage has become the latest industry player forced to lay off loan officers amid market shifts. The company revealed it will cut 428 employees at its Plano, Texas location. The…
JPMorgan Chase Fired Hundreds Of Mortgage Employees
JPMorgan Chase Fired Hundreds Of Mortgage Employees As Interest Rates Skyrocket And Demand Drops JPMorgan Chase fired hundreds employees from its mortgage lending business this week. The company says rising interest rates and a looming recession have lowered demand. JPMorgan Chase did not confirm how many employees were let go or moved to different divisions….
Another Wells Fargo Criminal Investigation Begins
Federal Prosecutors In Manhattan Launch Another Wells Fargo Criminal Investigation Over Its Sham Hiring Practices Federal prosecutors in Manhattan have launched another Wells Fargo criminal investigation. Investigators say they are investigating bank managers who conducted sham interviews with minority and female candidates. Bank managers allegedly interviewed minority candidates for roles that were already filled. The…
Biggest Housing Contraction Since 2006 Coming Says Freddie Mac
Freddie Mac Economists Predict The Arrival Of The Biggest Housing Contraction Since 2006 The pandemic’s housing boom is finally running on fumes. Now, Freddie Mac economists are predicting the arrival of the biggest housing contraction since 2006. They point to three factors: Home sales are falling Inventory levels are rising Home sellers are cutting list…
Foreclosure Alert! These States Have The Highest Rate Of Foreclosures
Foreclosure Alert! These States Have The Highest Rate Of Foreclosures In the US So Far In 2022 Foreclosure Alert! It has been well over a decade since America’s foreclosure disaster. The primary cause was that too many Americans with poor credit were given variable-rate mortgages. Mortgage interest rates rose and many lost their jobs. As…