Mr. Cooper lays off 250, predicts two tough quarters ahead
Mr. Cooper lays off 250, predicts two tough quarters ahead
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Add Mr. Cooper to the list of lenders and servicers reducing staff: pink slips arrived for 250 employees in the first quarter, as the company faced declines in the earnings from loan originations. And it's going to get very rough in Q2.
The post Mr. Cooper lays off workers as originations nosedive appeared first on HousingWire.
Add Mr. Cooper to the list of lenders and servicers reducing staff: pink slips arrived for 250 employees in the first quarter, as the company faced declines in the earnings from loan originations. And it's going to get very rough in Q2.
The post Mr. Cooper lays off workers as originations nosedive appeared first on HousingWire.
The pace of layoffs across the mortgage landscape isnโt letting up, with more firms announcing major cuts in response to rising interest rates and declining volumes.Mr. Cooper is laying off approximately 420 staff members, or 5% of its total employee base, mostly in originations, it announced Thursday. The terminations include 16% of the companyโs California workforce, with 120 cuts at its Santa Ana, California office. Mr. Cooper already laid off approximately 250 employees during the first...
The pace of layoffs across the mortgage landscape isnโt letting up, with more firms announcing major cuts in response to rising interest rates and declining volumes.Mr. Cooper is laying off approximately 420 staff members, or 5% of its total employee base, mostly in originations, it announced Thursday. The terminations include 16% of the companyโs California workforce, with 120 cuts at its Santa Ana, California office. Mr. Cooper already laid off approximately 250 employees during the first...
Mortgage originator and servicerย Mr. Cooper Groupย announced on Thursday that it is promoting two of its own โย Jaime Gow and Ethan Elzen โ into executive vice president roles.
The post Mr. Cooper names new vice presidents appeared first on HousingWire.
Mortgage originator and servicerย Mr. Cooper Groupย announced on Thursday that it is promoting two of its own โย Jaime Gow and Ethan Elzen โ into executive vice president roles.
The post Mr. Cooper names new vice presidents appeared first on HousingWire.
The moves are the latest executive changes at the company since Chris Marshall moved up to president.
The moves are the latest executive changes at the company since Chris Marshall moved up to president.
Retail lender Movement Mortgage laid off between 165 and 170 employees in March, sources told HousingWire. It's the latest lender to start paring back staff as origination volume falls.
The post Movement Mortgage lays off 170 employees appeared first on HousingWire.
Retail lender Movement Mortgage laid off between 165 and 170 employees in March, sources told HousingWire. It's the latest lender to start paring back staff as origination volume falls.
The post Movement Mortgage lays off 170 employees appeared first on HousingWire.
Top-10 residential lender and servicer Mr. Cooper has cut another 420 jobs, the second major layoff it has made this year. It's also lowered guidance on originations income in Q2.
The post Mr. Cooper cuts more jobs as origination outlook dims appeared first on HousingWire.
Top-10 residential lender and servicer Mr. Cooper has cut another 420 jobs, the second major layoff it has made this year. It's also lowered guidance on originations income in Q2.
The post Mr. Cooper cuts more jobs as origination outlook dims appeared first on HousingWire.
Mr. Cooper's second quarter profits, which marked big declines from both the same quarter in 2021 and the previous period this year, were heavily driven by a $196 million positive mark-to-market valuation on its mortgage servicing rights.As predicted, earnings in both its servicing and originations segments were down compared with the year-ago period."The quarter was consistent with our expectations andโฆour results demonstrated the consistency and predictability of our business model," Chairm...
Mr. Cooper's second quarter profits, which marked big declines from both the same quarter in 2021 and the previous period this year, were heavily driven by a $196 million positive mark-to-market valuation on its mortgage servicing rights.As predicted, earnings in both its servicing and originations segments were down compared with the year-ago period."The quarter was consistent with our expectations andโฆour results demonstrated the consistency and predictability of our business model," Chairm...
Homepoint laid off more than 100 employees this week as it feels the effects of the price war in the wholesale lending space.ย ย The company confirmed workforce reductions on Wednesday and Thursday are in line with the companyโs โopenness to get smaller as an organization to effectively counter severe market pressures,โ according to a spokesperson [โฆ]
The post Homepoint lays off off more than 100 employees appeared first on HousingWire.
Homepoint laid off more than 100 employees this week as it feels the effects of the price war in the wholesale lending space.ย ย The company confirmed workforce reductions on Wednesday and Thursday are in line with the companyโs โopenness to get smaller as an organization to effectively counter severe market pressures,โ according to a spokesperson [โฆ]
The post Homepoint lays off off more than 100 employees appeared first on HousingWire.
Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production. Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production.
Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production. Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production.