Tag: lender layoffs

The Majestic Home Loan Legacy Issue That Caused It’s Collapse

The Majestic Home Loan Legacy Issue That Caused It’s Collapse Was Due To Late Owner’s Inexperienced Son When Majestic Home Loan has abruptly closed last month the company was pretty tight lipped about the cause. All the company said was it was a legacy issue. What was the mysterious and unspoken Majestic Home Loan legacy…

Majestic Home Loan Abruptly Shuts Down

California Based Wholesale Lender Majestic Home Loan Reportedly Shut Their Doors On January 31st. Posts on social media say RMK Financial who does business as Majestic Home Loan has abruptly closed. Former AEs say the wholesale mortgage lender had to close their business due to a legacy issue. Another former AE posted a similar comment…

Finance Of America Posted 4th Straight Quarterly Loss

Finance Of America Posted It’s 4th Straight Quarterly Loss. Is The Slowly Imploding Finance of America Going The Way Of The Dinosaurs?  Finance of America posted its fourth consecutive quarterly loss on Wednesday.  The company had already announced it was working toward closing its forward mortgage origination business. Finance of America posted a net loss…

By Steve
2 min read

Finance Of America Mortgage To Shut Down

Finance of America Companies Pulls The Plug On Finance Of America Mortgage After Being Unable To Sell Its Forward Mortgage Unit Finance of America Companies has decided to shut down Finance of America Mortgage. The board of directors made the decision following the demise of a deal to sell its retail mortgage division. The company…

By Steve
3 min read

Fix-And-Flip Lender Kiavi Lays Off 7% Of It’s Employees

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 and protect the financial health of the company.” Kiavi’s…

By Steve
2 min read