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Few originators have been left unscathed by a big reduction in origination volume. We've put together a list of mortgage lenders that have instituted layoffs in 2022. Is your lender on here?
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.
Pennymac Financial Services will lay off 207 additional employees in June and July following a previous layoff announcement in March.
Purchase mortgage rates averaged 5.25%, down five basis points from last week, according to the Freddie Mac PMMS.
Fairway staff across the country received phone calls last week announcing they were part of a round of layoffs, sources told HousingWire.