Tag: mortgage servicing
Impac Mortgage Holdings Is Going Broker
Impac Mortgage Holdings Is Going Broker. Company Says Desperate Times Require Drastic Changes Starting With Winding Down It’s TPO Channel Impac Mortgage Holdings is going broker. The company announced major changes Wednesday. It said it was converting to a mortgage broker model. In addition, Impac announcing plans to “wind down” its third-party origination channel. It…
Impac Mortgage Holdings Fires 47 Percent Of It’s Employees
Impac Mortgage Holdings Fires 47% Of Its Employees After Posting $13 Million Loss In 3rd Quarter Of 2022 Impac Mortgage Holdings had a $13 million loss in the third quarter of 2022. This is leading leadership to adopt a defensive posture. They need to try and navigate one of the most challenging markets in decades….
Homepoint Has Finally Admitted It Has Shed 75% Of It’s Workforce
Homepoint Has Finally Admitted That It Shed Over 3,000 Employees. Homepoint has finally admitted that it has shrunk its workforce. The company says it’s workforce of 4,000 workers in summer of 2021 down to 1,000. The wholesale lender laid off 913 employees according to WARN notices filed in Arizona, Florida, Michigan and Texas. Homepoint has…
Homepoint Has Laid Off 100+ Employees
Homepoint Has Laid Off 100+ Employees. Company Expects To Save $100 Million Per Year With Layoffs Homepoint has laid off more than 100 employees this week. The company has been taking it to the gut with its price war with UWM. The company confirmed the layoffs on Wednesday and Thursday. They say the layoffs are…
Impac Mortgage Holdings Posts Ugly 2nd Quarter Results
Impac Mortgage Reports $13.5 Million Loss In Second Quarter. Company Blames Lack OF Housing Inventory Another mortgage lender is reporting taking a hit in their profit margins. Add Impac Mortgage Holdings to the list of mortgage lenders that posted a loss in the second quarter of 2022, As a result, Impac have opted to break with the…
Homepoint Takes $44M Hit In Q2 Amid Price War With UWM
Increasing Profit Margins Is The Goal Says Homepoint Management. Company Says They Are Not Afraid To Downsize Permanently Homepoint took a $44 Million loss in the second quarter of 2022. The company had already reduced costs and sold the mortgage servicing rights for loans in their servicing portfolio. The company reported that surging interest rates…