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. […]
Angel Oak Home Loans Selling Brick-And-Mortar Locations Along With Staff To Cross Country Mortgage. Angel Oak Home Loans said Thursday it will exit its brick-and-mortar retail lending business. The Atlanta-based lender said it is selling its retail lending business to a buyer it declined to disclose. It also did not disclose the financial terms of […]
Redfin Announced Wednesday It Is Laying Off 862 Employees. This Is 13% Of Its Staff. They Also Stated They Are Getting Out Of The iBuying Business. Redfin CEO Glenn Kelman wrote in an email to employees that the company is “laying off 862 brilliant, loyal people.” He also added that the company was closing RedfinNow. […]
Shrinking loanDepot Takes A $137.5M Hit In 3rd Quarter Due To Originations Declining To $9.8 Billion In Third Quarter A sever shrinking loanDepot posted it’s third-quarter earnings. The numbers show the company’s struggles are far from over. loanDepot reported its second consecutive quarterly loss in large part to plummeting mortgage production. The company says it expects production […]
American Foreclosure Activity Increases 57% In October 2022 And Completed Foreclosures Increased By 18% ATTOM’s Foreclosure Market Report released Wednesday says American foreclosure activity increased by 57% from a year ago. There were a total of 32,376 properties either with foreclosure filings, default notices, scheduled auctions or bank repossessions in October. Nationwide, one in every […]
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