And Another One Bites The Dust! Homestar Financial Shuts Down Amidst Mortgage Volatility Georgia based Homestar Financial announced this week that it is shutting down. The company blames rising mortgage rates and massive volume decrease. Additionally, they are also blaming the market compression for the closure. A Homestar Financial LO posted on Facebook: Please pray […]
New York Community Bank Says It Will Eliminate 69% Of It’s Mortgage Lending Offices After Merger With Flagstar Bank New York Community Bank announced Tuesday it is “restructuring” its mortgage operations. Insiders translate that as the bank closing over two-thirds of it’s mortgage lending offices. The also announcement comes after NYCB completed it’s merger with […]
New Residential Investment Corporation Hands Out Hundreds More Top To Bottom Pink Slips In Every Department. New Residential Investment Corporation is continuing to lay off originations staffers this week. The lender has made launched rounds of massive layoffs since February. New Residential employees say the company targeted their processing, underwriting, and closing departments in last […]
MAMA MIA! Here We Go Again! Major Lender, First Guaranty Mortgage Corporation Closes It’s Doors! Company Files Bankruptcy! 16 years years ago, mortgage lenders began dropping like flies at the beginning of the great recession. Well, it’s deja vu all over again! First Guaranty Mortgage Corporation (FGMC) and its affiliate Maverick II Holdings have shut […]
Mortgage Industry Faces More Mass Job Layoffs. First Guaranty and Zillow Among Those Slashing Positions. The mortgage industry faces another round of layoffs. First Guaranty Mortgage has become the latest industry player forced to lay off loan officers amid market shifts. The company revealed it will cut 428 employees at its Plano, Texas location. The […]
Speak to a specialist at (888) 737-6344
Subscribe to our weekly newsletter below and never miss the latest product or an exclusive offer.
