Last year was a record year in terms of loan production at $4.4 trillion. But oftentimes, when you have a boom, there’s an ugly hangover in the form of job cutbacks. How bad might it get?
It’s no secret that mortgage bankers and brokers are cutting workers as lending ebbs in a much higher rate environment. But with the exception of Better.com, the layoffs have not been huge. Yet.
When poet T.S. Eliot wrote those immortal words about spring, he wasn’t thinking about the home-finance sector. But company headcounts are being reduced as shops plan for leaner days ahead.
Mortgage bankers far and wide are trimming employees as interest rates continue to rise and refinance wane. But industry employment figures look benign. How can that be?
The connection between work from home and productivity; Supreme Court blocks vaccine mandate for larger employers; Figure revises bank charter application; parent of Texas Capital Bank launches broker dealer.
Mortgage lenders no longer gripe about the hard time they’re having finding qualified and reasonably priced personnel. A barometer of what may lie ahead?
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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