Ally Financial is winding down its mortgage origination business, saying its borrowers are struggling with debt. The company will also cut less than 5% of its workforce. They have about 11,000 employees. “As we continue to right-size our company, we made the difficult decision to selectively reduce our workforce in some areas, while continuing to…
Wells Fargo is reducing its home lending footprint, a move that experts say will have major ramifications in the mortgage industry. Formerly the nation’s largest mortgage lender, the bank announced Tuesday that it is exiting the correspondent lending channel and shrinking its mortgage servicing portfolio. “We are making the decision to continue to reduce risk…
By KIMBERLEY HAAS The CEO of loanDepot says they will continue to focus on their long-term strategy to become the most trusted homeowner fulfillment company in the world after the company released their results for 2021, which show a decline in net income but an increase in market share. Anthony Hsieh, Founder and CEO of…
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