The next Implodometer Tragic News for many great people
Layoffs since April 2022
Call Centers Firing 2000 employees and keeping four to man the phone.
Processing and Underwriting jobs slashed Nationwide.
Loan Originators who do not have purchase business self generated are let go.
Those who worked in a call center were not allowed to bring their phone in and have no book of business. Borrowers who have 2.75 aren't doing cash out refinances at 5.5
We now exceed 210302 layoffs in Mortgage as of 7/7/2022
If you have anything to report or a job offering please comment.
List is in order of happening in May 2022
- Wells let go 3127
- Live Well Financial shut down/
- Bank of America 3989 fired
- JPM Chase 1800 laid off
- Flagstar 199 laid off
- Pennymac 54 jobs gone
- Ocwen 701 already and plans to cut 1600 more
- Mr Cooper 251 jobs and more planned for next week
- Blend 201 employees laid off which is 11% of the total
- Better 4000+ and is expected to shut doors
- Homepoint sold correspondent to Planet Home Lending and 94 layoffs
- Primis Bank to acquire Sea Trust Mortgage Company 22 layoffs
- Owning to cut 189 jobs in Orange, CA
- Union Home Mortgage layoffs in Strongsville, OH 188 people
- CrossCountry Mortgage to acquire LendUS so far 171 gone
- Flagstar Bank cut 20% of mortgage staff (420 jobs)
- Rocket Mortgage offering buyouts to 8% of staff or 2888 people
- Blend Labs to lay off 200 employees
- USAA Bank cut 90+ mortgage jobs
- Wyndham Capital Mortgage layoffs 35 LO's and 15 staff
- Strong Home Mortgage layoffs
- Supreme Lending layoffs (per user comment below)
- First Guaranty Mortgage Corporation/Goodmortgage layoffs (per user comment below)
- American Pacific Mortgage layoffs (per user comment below)
- National Bank Holdings Corporation to acquire Bank of Jackson Hole
- Movement Mortgage layoffs (based on industry reporting)
- PennyMac to cut 227 jobs in Agoura/Moorpark/Westlake, CA
- Prospect Home Finance to cut 5 jobs in La Jolla, CA
- PennyMac to cut 81 jobs in Roseville, CA
- All Cal Financial to merge with InstaMortgage
- Knock to reduce its workforce by approximately 46%
- Ellington Financial to acquire reverse mortgage lender Longbridge Financial
- WinnPointe Corporation dba Interactive Mortgage to cut 51 jobs in Orange, CA
- Santander Bank halts all mortgage lending including HELOCs, layoffs
- KKR to acquire Merchants Mortgage Trust & Corporation, LLC
- Mortgage Solutions Financial to acquire First American State Bank, will change name to MSF Bank
- Redfin to acquire Bay Equity Home Loans, 121 layoffs
- Genpact Mortgage Services Inc. cut 14 jobs in Irvine, CA
- Texas Partners Bank to acquire Legacy Mutual Mortgage
- Eustis Mortgage Corporation to acquire Signature Mortgage Corporation
- Impac who laid off 333 people during first wave of covid and closed down had a booth at Cali Expo 5/6/2022 which was empty.
- Interfirst Mortgage to cut 77 jobs in Charlotte, NC
- Opendoor to acquire RedDoor
- Zillow Offers shut down, 25% of staff to be let go another 211 slashed 5/6/2022
- First Federal Community Bank to acquire Lighthouse Mortgage
- Armed Forces Bank to acquire residential mortgage operations of KS StateBank
- Athene to acquire non-QM lender Newfi lets go 14
- New Residential Investment Corp. to acquire Genesis Capital LLC
- U.S. Bank to acquire MUFG Union Bank USBank 118 layoffs
- Arcus Lending changes name to InstaMortgage
- Figure to merge with Homebridge Financial Services
- Freedom bought JG Wentworth and has laid off 213
- Homepoint to reorganize its operational structure, layoffs
- Cornerstone Home Lending to acquire The Roscoe State Bank
- ResiCentral Mortgage acquires One American Mortgage
- Pentagon FCU to buy TIAA Bank’s correspondent lending unit, layoffs
- Regions Bank to acquire EnerBank USA
- Mortgage Investors Corp. files Chapter 11 bankruptcy
- Guild Mortgage to acquire Residential Mortgage Services Holdings, Inc.
- Veritex Community Bank to acquire 49% stake in Thrive Mortgage, LLC
- Finance of America to acquire wholesale lending assets of Parkside Lending LLC
- New York Community Bancorp, Inc. to acquire Flagstar Bancorp
- Texas Capital Bank to exit correspondent lending, potential layoffs
- Webster Financial Corp. to purchase Sterling Bancorp
- New Residential Investment Corp. to buy Caliber Home Loans
- Western Alliance Bancorp to purchase Aris Mortgage Holding Company, parent company of AmeriHome
- Guaranteed Rate acquires Owning
- Calculated Risk Analytics buys Castle Mortgage, will rebrand as Excelerate Capital
- Pacific Western Bank has acquired Civic Financial Services, LLC
- First Community Mortgage (FCM) to acquire a Mortgage Boutique (AMB)
- Guaranteed Rate acquires Stearns Lending
- PNC Bank to acquire BBVA
- Velocity Financial Inc. 119 layoffs
- Trustar Bank to acquire Granite Mortgage
- Zillow Offers to lay off 80 employees
- Western Alliance Bank acquires Galton Funding
- MVB Mortgage and Intercoastal Mortgage Company to combine
- CrossCountry Mortgage, LLC acquires assets of First Choice Loan Services Inc.
- Citadel Servicing Corp. to cut 108 jobs in Irvine, CA
- Mr. Cooper to cease wholesale lending operations, layoffs
- Impac Mortgage Holdings, Inc. lending activities on hold, 333 Orange County employees under temporary layoff
- Opendoor cuts 600 jobs
- eXp Realty reduces headcount by approximately 15%
- Redfin cutting 7% or 292 jobs they tell you the percent as it doesn't sound so bad
- Unison cutting 89 jobs in CA
- Ixonia Bank acquires Novus Home Mortgage
- Deephaven Mortgage layoffs
- Angel Oak Mortgage Solutions cuts roughly 200 jobs
- Freedom Mortgage Corp. to shut San Dimas call center, slash 171 jobs
- One Reverse Mortgage to halt operations
- Chase to cut hundreds of mortgage jobs
- Mr. Cooper to close Beaverton, OR office, cut 301 jobs
- Howard Bank (MD) to discontinue its mortgage banking business
- FirstBank to acquire Franklin Synergy Bank
- Blue Ridge Bankshares Inc. acquires LenderSelect Mortgage Group
- Capital City Bank Group Inc. to acquire 51% ownership stake in BrandMortgage
- 1st Alliance Lending to shut down
- Resolute Bank shut by FDIC
- HPS Investment Partners to acquire Citadel Servicing Corp.
- Commerce Bancshares, Inc. acquires Assumption Mortgage Corp., renames it Assumption Mortgage, LLC
- Altisource Portfolio Solutions to shut Owners.com business unit
- Ditech sells reverse mortgage business to Mortgage Assets Management, LLC
- New Residential to acquire Ditech Holding’s forward mortgage servicing and origination business
- Syracuse Securities, Inc. to close, transfer loan officers and some staff to Premium Mortgage Corp.
- Bay Equity Home Loans acquires assets of Village Mortgage
- Santander Bank to exit third-party mortgage business, 66 layoffs in Villanova, PA
- American Mortgage Service Co. and Eustis Mortgage to merge
- Freedom Mortgage Corp. acquired J.G. Wentworth Home Lending, LLC
- William Lyon Homes acquires South Pacific Financial Corporation, rebrands it as ClosingMark Homes Loans, Inc.
- CrossCountry Mortgage acquires PERL Mortgage, Inc.
- HomeLight acquires mortgage startup Eave
- Stearns Holdings LLC (parent of Stearns Lending) files for bankruptcy
- FirstBank to sell correspondent lending unit to Rushmore Loan Management Services LLC
- Fifth Third Bank to close 44 Chicago-area branches
- Pretium to acquire Deephaven Mortgage LLC
- Prodigy Lending LLC merges with The Texas Mortgage Pros
- Freedom Mortgage Corp. acquires RoundPoint Mortgage Servicing
- Open Mortgage acquires Premier Home Mortgage
- Bank 34 halts mortgage lending, will sell/close its 9 production offices
- Live Well Financial, Inc. halts mortgage lending
- Movement Mortgage acquires retail division of Platinum Mortgage Inc.
- Intercontinental Exchange (ICE) to purchase Simplifile
- First Choice Loan Services, Inc. ceases operations, for sale
- Moore Lending Group acquired by Sierra Pacific Mortgage Company, Inc.
- Rock Holdings acquires majority stake in Lendesk
- WMC Mortgage files Chapter 11 bankruptcy
- Reali acquires online direct mortgage lender Lenda
- Home Point Financial acquires wholesale division of Platinum Mortgage Inc.
- Colony Bank agrees to purchase PFB Mortgage
- Ditech to close St. Paul office, let go of 210 employees
- KeyBank acquires Laurel Road Bank’s digital lending business
- Renasant Bank to acquire FirstBank’s wholesale mortgage division
- Banc of California stops wholesale and correspondent lending
- AmWest Funding layoffs in Brea, CA
- Ocwen closing facilities, cutting 2,000+ jobs nationwide
- Member First Mortgage to acquire Platinum Financial Funding
- HomeStreet Bank to sell its stand-alone home loan centers to Homebridge Financial
- TIAA Bank to stop retail branch mortgage lending, sell some branches to U.S. Bank, potential layoffs of 1900 people
- Village Mortgage Company to shut down wholesale lending channel
- Thoma Bravo to buy Ellie Mae, layoffs, hmmm maybe
- BB&T Corp. to purchase SunTrust Banks, Inc.
- U.S. Bank to cut approximately 40 mortgage jobs in Brookfield, WI
- Provident Bank Mortgage to cease operations, 133 layoffs in CA
- Invitation Homes laying off 51 in Scottsdale, AZ
- Title365 cutting 70 jobs in Palm Bay, FL
- U.S. Bank Home Mortgage to cut jobs in Owensboro, KY
- Seterus, Inc. to shut mortgage servicing unit in Durham, NC, cut 310 jobs
- Mr. Cooper to cut 109 jobs in Santa Ana, CA
- Finance of America closing Roseville, CA office, 33 layoffs
- Renovate America, Inc. laying off 71 in San Diego, CA
- Movement Mortgage to acquire retail mortgage operations of Eagle Home Mortgage, LLC which was a Lennar company layoffs expected of managers, underwriters, processors and sales
- AmeriSave Mortgage Corp. buys origination business of The Money Source (TMS)
- First American Title Insurance cutting 116 jobs in Santa Ana, CA
- New Fed Mortgage Corp. to acquire Commonwealth Mortgage LLC
- New American Funding acquires Marketplace Home Mortgage
- Middletown Valley Bank to acquire Millennium Financial Group (MLend)
- Bridgeview Bank Mortgage to cut 97 jobs
- Franklin First Financial shut down
- Gateway Mortgage Group closing eight retail mortgage branches in California, 25 layoffs
- United Bank to cut mortgage loan officer jobs as part of restructuring
- SoFi cutting around 100 mortgage jobs
- Hometown Lenders acquires TotalChoice Mortgage
- Guaranteed Rate acquires assets/staff from Honolulu HomeLoans and Hawaii Lending Alliance
- Firstar Bank to acquire assets of Leader Mortgage
- LoanDepot layoffs 813
- Mr. Cooper to acquire Pacific Union Financial LLC
- Impac Mortgage layoffs unknown
- Synergy One Lending to acquire BBMC Mortgage
- CMG Financial 94 layoffs
- Angel Oak 31 layoffs
- Sprout 18 layoffs
- Nova Home Loans layoffs (per user comment below)
- TD Bank to acquire First Horizon Corp.
- Stearns Wholesale to shut down, 348 layoffs
- Amerisave cuts recruiting and underwriting jobs number unknown
- American Mortgage and Futis merge unknown layoff numbers
- Fannie Mae and Freddie Mac to merge to save costs and cut jobs?
- Winnepoint/ Interactive 108 layoffs
- Stantander stopped lending 988 layoffs
- Costco Mortgage closed down
- New Rez laid off 390 after Caliber bought them 900 more to come
- Guild ?
- United Wholesale 199
- Interfirst 139
- Fairway?
- CrossCountry taking over LendUS who was RPM just months back
Then there are the servicers
in alphabetical order:
1st Alliance Lending to shut down
All Cal Financial to merge with InstaMortgage
Altisource Portfolio Solutions to shut Owners.com business unit
AmWest Funding layoffs in Brea, CA
AmeriSave Mortgage Corp. buys origination business of The Money Source (TMS)
American Mortgage Service Co. and Eustis Mortgage to merge
American Mortgage and Futis merge unknown layoff numbers
American Pacific Mortgage layoffs (per user comment below)
Amerisave cuts recruiting and underwriting jobs number unknown
Angel Oak 31 layoffs
Angel Oak Mortgage Solutions cuts roughly 200 jobs
Arcus Lending changes name to InstaMortgage
Armed Forces Bank to acquire residential mortgage operations of KS StateBank
Athene to acquire non-QM lender Newfi lets go 14
BB&T Corp. to purchase SunTrust Banks, Inc.
Banc of California stops wholesale and correspondent lending
Bank 34 halts mortgage lending, will sell/close its 9 production offices
Bank of America 3989 fired
Bay Equity Home Loans acquires assets of Village Mortgage
Better 4000+ and is expected to shut doors
Blend 201 employees laid off which is 11% of the total
Blend Labs to lay off 200 employees
Blue Ridge Bankshares Inc. acquires LenderSelect Mortgage Group
Bridgeview Bank Mortgage to cut 97 jobs
CMG Financial 94 layoffs
Calculated Risk Analytics buys Castle Mortgage, will rebrand as Excelerate Capital
Capital City Bank Group Inc. to acquire 51% ownership stake in BrandMortgage
Chase to cut hundreds of mortgage jobs
Citadel Servicing Corp. to cut 108 jobs in Irvine, CA
Colony Bank agrees to purchase PFB Mortgage
Commerce Bancshares, Inc. acquires Assumption Mortgage Corp., renames it Assumption Mortgage, LLC
Cornerstone Home Lending to acquire The Roscoe State Bank
Costco Mortgage closed down
CrossCountry Mortgage acquires PERL Mortgage, Inc.
CrossCountry Mortgage to acquire LendUS so far 171 gone
CrossCountry Mortgage, LLC acquires assets of First Choice Loan Services Inc.
CrossCountry taking over LendUS who was RPM just months back
Deephaven Mortgage layoffs
Ditech sells reverse mortgage business to Mortgage Assets Management, LLC
Ditech to close St. Paul office, let go of 210 employees
Ellington Financial to acquire reverse mortgage lender Longbridge Financial
Fairway 5/20 811 humans cut
Eustis Mortgage Corporation to acquire Signature Mortgage Corporation
Fairway?
Fannie Mae and Freddie Mac to merge to save costs and cut jobs?
Fifth Third Bank to close 44 Chicago-area branches
Figure to merge with Homebridge Financial Services
Finance of America closing Roseville, CA office, 33 layoffs
Finance of America to acquire wholesale lending assets of Parkside Lending LLC
First American Title Insurance cutting 116 jobs in Santa Ana, CA
First Choice Loan Services, Inc. ceases operations, for sale
First Community Mortgage (FCM) to acquire a Mortgage Boutique (AMB)
First Federal Community Bank to acquire Lighthouse Mortgage
First Guaranty Mortgage Corporation/Goodmortgage layoffs (per user comment below)
FirstBank to acquire Franklin Synergy Bank
FirstBank to sell correspondent lending unit to Rushmore Loan Management Services LLC
Firstar Bank to acquire assets of Leader Mortgage
Flagstar 199 laid off
Flagstar Bank cut 20% of mortgage staff (420 jobs)
Franklin First Financial shut down
Freedom Mortgage Corp. acquired J.G. Wentworth Home Lending, LLC
Freedom Mortgage Corp. acquires RoundPoint Mortgage Servicing
Freedom Mortgage Corp. to shut San Dimas call center, slash 171 jobs
Freedom bought JG Wentworth and has laid off 213
Gateway Mortgage Group closing eight retail mortgage branches in California, 25 layoffs
Genpact Mortgage Services Inc. cut 14 jobs in Irvine, CA
Guaranteed Rate acquires Owning
Guaranteed Rate acquires Stearns Lending
Guaranteed Rate acquires assets/staff from Honolulu HomeLoans and Hawaii Lending Alliance
Guild ?
Guild Mortgage to acquire Residential Mortgage Services Holdings, Inc.
HPS Investment Partners to acquire Citadel Servicing Corp.
Home Point Financial acquires wholesale division of Platinum Mortgage Inc.
HomeLight acquires mortgage startup Eave
HomeStreet Bank to sell its stand-alone home loan centers to Homebridge Financial
Homepoint sold correspondent to Planet Home Lending and 94 layoffs
Homepoint to reorganize its operational structure, layoffs
Hometown Lenders acquires TotalChoice Mortgage
Howard Bank (MD) to discontinue its mortgage banking business
Impac Mortgage Holdings, Inc. lending activities on hold, 333 Orange County employees under temporary layoff
Impac Mortgage layoffs unknown
Impac who laid off 333 people during first wave of covid and closed down had a booth at Cali Expo 5/6/2022 which was empty.
Intercontinental Exchange (ICE) to purchase Simplifile
Interfirst 139
Interfirst Mortgage to cut 77 jobs in Charlotte, NC
Invitation Homes laying off 51 in Scottsdale, AZ
Ixonia Bank acquires Novus Home Mortgage
JPM Chase 1800 laid off
KKR to acquire Merchants Mortgage Trust & Corporation, LLC
KeyBank acquires Laurel Road Bank’s digital lending business
Knock to reduce its workforce by approximately 46%
Live Well Financial shut down/
Live Well Financial, Inc. halts mortgage lending May 20 bankrupt
LoanDepot layoffs 813
MVB Mortgage and Intercoastal Mortgage Company to combine
Member First Mortgage to acquire Platinum Financial Funding
Middletown Valley Bank to acquire Millennium Financial Group (MLend)
Moore Lending Group acquired by Sierra Pacific Mortgage Company, Inc.
Mortgage Investors Corp. files Chapter 11 bankruptcy
Mortgage Solutions Financial to acquire First American State Bank, will change name to MSF Bank
Movement Mortgage acquires retail division of Platinum Mortgage Inc.
Movement Mortgage layoffs (based on industry reporting)
Movement Mortgage to acquire retail mortgage operations of Eagle Home Mortgage, LLC which was a Lennar company layoffs expected of managers, underwriters, processors and sales
Mr Cooper 251 jobs and more planned for next week
Mr. Cooper to acquire Pacific Union Financial LLC
Mr. Cooper to cease wholesale lending operations, layoffs
Mr. Cooper to close Beaverton, OR office, cut 301 jobs
Mr. Cooper to cut 109 jobs in Santa Ana, CA
National Bank Holdings Corporation to acquire Bank of Jackson Hole
New American Funding acquires Marketplace Home Mortgage
New Fed Mortgage Corp. to acquire Commonwealth Mortgage LLC
New Residential Investment Corp. to acquire Genesis Capital LLC
New Residential Investment Corp. to buy Caliber Home Loans
New Residential to acquire Ditech Holding’s forward mortgage servicing and origination business
New Rez laid off 390 after Caliber bought them 900 more to come
New York Community Bancorp, Inc. to acquire Flagstar Bancorp
Nova Home Loans layoffs (per user comment below)
Ocwen 701 already and plans to cut 1600 more
Ocwen closing facilities, cutting 2,000+ jobs nationwide
One Reverse Mortgage to halt operations
Open Mortgage acquires Premier Home Mortgage
Opendoor cuts 600 jobs
Opendoor to acquire Red Door
Owning to cut 189 jobs in Orange, CA
PNC Bank to acquire BBVA
Pacific Western Bank has acquired Civic Financial Services, LLC
PennyMac to cut 227 jobs in Agoura/Moorpark/Westlake, CA
PennyMac to cut 81 jobs in Roseville, CA
Pennymac 54 jobs gone
Pentagon FCU to buy TIAA Bank’s correspondent lending unit, layoffs
Pretium to acquire Deephaven Mortgage LLC
Primis Bank to acquire Sea Trust Mortgage Company 22 layoffs
Prodigy Lending LLC merges with The Texas Mortgage Pros
Prospect Home Finance to cut 5 jobs in La Jolla, CA
Provident Bank Mortgage to cease operations, 133 layoffs in CA
Reali acquires online direct mortgage lender Lenda
Redfin cutting 7% or 292 jobs they tell you the percent as it doesn't sound so bad
Redfin to acquire Bay Equity Home Loans, 121 layoffs
Regions Bank to acquire EnerBank USA
Renasant Bank to acquire First Bank’s wholesale mortgage division
Renovate America, Inc. laying off 71 in San Diego, CA
ResiCentral Mortgage acquires One American Mortgage
Resolute Bank shut by FDIC
Rock Holdings acquires majority stake in Lendesk
Rocket Mortgage offering buyouts to 8% of staff or 2888 people
Santander Bank halts all mortgage lending including HELOCs, layoffs
Santander Bank to exit third-party mortgage business, 66 layoffs in Villanova, PA
Seterus, Inc. to shut mortgage servicing unit in Durham, NC, cut 310 jobs
SoFi cutting around 100 mortgage jobs
Sprout 18 layoffs
Stantander stopped lending 988 layoffs
Stearns Holdings LLC (parent of Stearns Lending) files for bankruptcy
Stearns Wholesale to shut down, 348 layoffs
Strong Home Mortgage layoffs
Supreme Lending layoffs (per user comment below)
Synergy One Lending to acquire BBMC Mortgage
Syracuse Securities, Inc. to close, transfer loan officers and some staff to Premium Mortgage Corp.
TD Bank to acquire First Horizon Corp.
TIAA Bank to stop retail branch mortgage lending, sell some branches to U.S. Bank, potential layoffs of 1900 people
Texas Capital Bank to exit correspondent lending, potential layoffs
Texas Partners Bank to acquire Legacy Mutual Mortgage
Then there are the servicers
Thoma Bravo to buy Ellie Mae, layoffs, hmmm maybe
Title365 cutting 70 jobs in Palm Bay, FL
Trustar Bank to acquire Granite Mortgage
U.S. Bank Home Mortgage to cut jobs in Owensboro, KY
U.S. Bank to acquire MUFG Union Bank USBank 118 layoffs
U.S. Bank to cut approximately 40 mortgage jobs in Brookfield, WI
USAA Bank cut 90+ mortgage jobs
Union Home Mortgage layoffs in Strongsville, OH 188 people + 90 more May 20, 2022
Unison cutting 89 jobs in CA
United Bank to cut mortgage loan officer jobs as part of restructuring
United Wholesale 199
Velocity Financial Inc. 119 layoffs
Veritex Community Bank to acquire 49% stake in Thrive Mortgage, LLC
Village Mortgage Company to shut down wholesale lending channel
WMC Mortgage files Chapter 11 bankruptcy
Webster Financial Corp. to purchase Sterling Bancorp
Western Alliance Bancorp to purchase Aris Mortgage Holding Company, parent company of AmeriHome
Western Alliance Bank acquires Galton Funding
William Lyon Homes acquires South Pacific Financial Corporation, rebrands it as ClosingMark Homes Loans, Inc.
WinnPointe Corporation dba Interactive Mortgage to cut 51 jobs in Orange, CA
Winnepoint/ Interactive 108 layoffs
Wyndham Capital Mortgage layoffs 35 LO's and 15 staff
Zillow Offers shut down, 25% of staff to be let go another 211 slashed 5/6/2022
Zillow Offers to lay off 80 employees
eXp Realty reduces headcount by approximately 15%
ells let go 3127
Update 6/28/2022 FGMC lays off more than 487 loan officers and underwriters all on one zoom call yesterday
First Guarantee Mortgage fires the crew
Will they fund your loan now?
FGMC files bankruptcy 6/29/2022
I know what the pain is for all the FGMC employees.
I suffered the WAMU BK and can write off $3000 until 2408 yes
that is 400 years away or until I die whichever comes sooner.
Sun West Mortgage lays off 384 employees 6/29/2022
And again July 8th 114 laid off Underwriters and processors
Sprout Mortgage closes it's doors lays off 170 7/6/2022
Cypress Home Loans closes and lays off 190 8/19/2022
Amerisave Mortgage closes wholesale 8/2/2022
Amerisave Mortgage closes retail 09/23/2022 total slashed 420 people
Homepoint Capital fires 514 humans 9/23/2022
Summit Funding 32 October 2022
Luxury Mortgage Corporation 311 November 1 2022
Freedom Mortgage 277 November 1 2022
New American Funding another 188 November 8, 2022
Athas Capital 231 employees November 10, 2022
Reverse Mortgage Funding November 21, 2022 closes doors and lays off 314
Banco Santander 211 in April 2022 and another 98 in November 2022
Bay First 84 November 2022
Citigroup 194 November 2022
First Bank 85 November 2022
Flagstar 411 November 2022
Green State Credit Union 43 November 2022
J P Morgan Chase 998 November 2022
Texana Bank 58 October 2022
USAA Federal Savings Bank 98 October 2022
Wells Fargo another 211 October 2022
American Advisors Group 451 October 2022
Amerisave Mortgage 346 October 2022
Better now closed 3400 people gone two remain October 2022
Divvy Homes 40 September 2022
Envoy Mortgage 298 September 2022
Flyhomes 163 September 2022
Genpact Mortgage Services 14 August 2022
Guild Mortgage 321 August 2022
Home Point Financial 526 August 2022
Homeward 218 August 2022
Inlanta 85 August 2022 sold name to Guild and shut doors
Interactive Mortgage 62 August 2022
Interfirst Mortgage 78 July 2022 and some more in August number unknown
Knock 262 July 2022
Loan Depot slashed another 3341 people August 2022
Lower 24 August 2022
Movement Mortgage 271 September 2022
Mr Cooper another 1701 September 2022 (AKA Nationstar)
New American Funding 272 more September 2022
Open Mortgage 14 September 2022 doors closed August with another 12 laid off
Orchard 280 September 2022
Owning or Guaranteed Rate 189 April 2022
Penny Mac 495 March 2022
Prospect financial Group Mortgage 12 September 2022
Reali 192 September 2022 filed BK 3 more in October
Reverse mortgage Funding 411 November 2022 Filed BK
Ribbon 136 September 2022
Rocket Companies rocket Mortgage 611 more in November 2022
Ruoff Mortgage 41 September 2022
Sprout 400 people class action lawsuit
Stearns Lending 438 September 2022 wholesale closed doors
summit Funding 81 September 2022
Tomo Networks founded by Zillow geniuses closed doors 69 layoffs
Up equity 9 September 2022
Wyndham Capital Mortgage 48 September 2022
Radian Group 199 September 2022
DOMA 188 some employees India unknown number August 2022
Blend LAbs 440 September 2022 how will they stay competitive with Encompass BKI and ICE ?
Clear Capital Cario Cubicasa REO Network 220 September 2022
Notarize 152 in two sets of layoffs in the Fall 2022
Clever Real Estate unknown number
Compass 722 people total in November 2022
Opendoor 440 November 2022
Redfin 1490 November 2022
Sundae 110
Zillow 412
Loan Care 89
Roundpoint 74
Safeguard 9
Athas Capital Group November 2022 91 people
January 2023 Compass announces third round of layoffs- total 217
January 2023 Blackrock and Goldman layoff 1000
1/27/2023 Flagstar Bank closed it's retail division after its merger with New York Community Bank and lays off 612 people
1/27/2023 Clear Capital second round of layoffs total 389
Updating the list
Rushmore dumps residential mortgage servicing platform to Mr. Cooper (4/26/23)
First Republic Bank to lay off 20-25% of its workforce (4/24/23) 900
Wells Fargo to cut 78 more jobs in Des Moines (4/20/23)
Homepoint to lay off 113 employees in Ann Arbor, MI (4/19/23)
Opendoor to cut 560 jobs (4/18/23)
Redfin cuts 200 more jobs (4/13/23)
First Federal to purchase BNC National Bank’s mortgage business assets (4/12/23)
Wells Fargo to cut 78 more jobs in Des Moines (4/20/23)
Homepoint to lay off 113 employees in Ann Arbor, MI (4/19/23)
Opendoor to cut 560 jobs (4/18/23)
Redfin cuts 200 more jobs (4/13/23)
First Federal to purchase BNC National Bank’s mortgage business assets (4/12/23)
Citizens Bank mortgage division layoffs in NYC (4/4/23)
SoFi has acquired Wyndham Capital Mortgage (4/3/23)
Homebridge Financial Services to lay off 139 employees in NJ (3/31/23)
First Citizens Bank & Trust to acquire Silicon Valley Bridge Bank (3/27/23)
SoFi has acquired Wyndham Capital Mortgage (4/3/23)
Homebridge Financial Services to lay off 139 employees in NJ (3/31/23)
First Citizens Bank & Trust to acquire Silicon Valley Bridge Bank (3/27/23)
Silicon ceases lending
First Republic ceases lending
Bank of America cut 200 more loan officer jobs (3/24/23)
Family First Funding acquired by AnnieMac Home Mortgage (3/22/23)
UBS acquires Credit Suisse (3/19/23) Unknown if Swiss Government will bail them out
Flagstar Bank acquires deposits, loan portfolios, and branches of Signature Bridge Bank (3/19/23)
Bank of America cut 200 more loan officer jobs (3/24/23)
Family First Funding acquired by AnnieMac Home Mortgage (3/22/23)
UBS acquires Credit Suisse (3/19/23) Unknown if Swiss Government will bail them out
Flagstar Bank acquires deposits, loan portfolios, and branches of Signature Bridge Bank (3/19/23)
Signature Bank gone, ceases lending
CoStar Group, Inc. cuts 62 jobs in San Diego (3/14/23)
Guild Mortgage acquires Cherry Creek Mortgage (3/13/23)
Silvergate Bank to lay off 260 employees in La Jolla, CA (3/13/23)
Signature Bank closed by the NYDFS (3/12/23)
Silicon Valley Bank shut by the FDIC (3/10/23)
Impac Mortgage converts consumer direct division into a mortgage broker fulfillment model (3/8/23)
Silvergate Bank to wind down operations (3/8/23)
Finance of America to cut 48 jobs in Roseville, CA (3/8/23)
North American Savings Bank (NASB Financial Inc.) to lay off 85 across Missouri (3/7/23)
CMG Mortgage, Inc. to acquire the retail division of Homebridge Financial Services (3/6/23)
Citi mortgage 191 layoffs (3/2/23)
Prosperity Home Mortgage, LLC to acquire JFQ Lending, LLC (2/28/23)
Majestic Home Loan also known as RMK permanently banned from mortgage for deceptive advertising, bait and switch shut down by the CFPB (2/27/23)
Wells Fargo cut 500+ more mortgage jobs (2/23/23)
CoStar Group, Inc. cuts 62 jobs in San Diego (3/14/23)
Guild Mortgage acquires Cherry Creek Mortgage (3/13/23)
Silvergate Bank to lay off 260 employees in La Jolla, CA (3/13/23)
Signature Bank closed by the NYDFS (3/12/23)
Silicon Valley Bank shut by the FDIC (3/10/23)
Impac Mortgage converts consumer direct division into a mortgage broker fulfillment model (3/8/23)
Silvergate Bank to wind down operations (3/8/23)
Finance of America to cut 48 jobs in Roseville, CA (3/8/23)
North American Savings Bank (NASB Financial Inc.) to lay off 85 across Missouri (3/7/23)
CMG Mortgage, Inc. to acquire the retail division of Homebridge Financial Services (3/6/23)
Citi mortgage 191 layoffs (3/2/23)
Prosperity Home Mortgage, LLC to acquire JFQ Lending, LLC (2/28/23)
Majestic Home Loan also known as RMK permanently banned from mortgage for deceptive advertising, bait and switch shut down by the CFPB (2/27/23)
Wells Fargo cut 500+ more mortgage jobs (2/23/23)
Wells Fargo out of mortgage lending, closed correspondent, closed wholesale, closed retail
JZZ Technologies, Inc. to acquire Oxygen Mortgage (2/22/23)
Civic Financial Services, LLC to eliminate approximately 200 positions (2/21/23)
Mutual of Omaha Mortgage has acquired the assets of Keller Mortgage LLC (2/20/23)
Celebrity Home Loans layoffs (2/16/23)
EagleBank laid off 36 in Rockville, MD (2/15/23)
Mr. Cooper to acquire Roosevelt Management Company and Rushmore
Loan Management Services (2/10/23)
Redwood Trust sees a 24% reduction in workforce due to market volatility (2/10/23)
AmCap Mortgage acquired Oz Lending, Orange Mortgage and Rev Mortgage brands (2/9/23)
Town Square Mortgage to merge with American Portfolio Mortgage (2/9/23)
Chase to cut 310 additional mortgage jobs (2/8/23)
JZZ Technologies, Inc. to acquire Oxygen Mortgage (2/22/23)
Civic Financial Services, LLC to eliminate approximately 200 positions (2/21/23)
Mutual of Omaha Mortgage has acquired the assets of Keller Mortgage LLC (2/20/23)
Celebrity Home Loans layoffs (2/16/23)
EagleBank laid off 36 in Rockville, MD (2/15/23)
Mr. Cooper to acquire Roosevelt Management Company and Rushmore
Loan Management Services (2/10/23)
Redwood Trust sees a 24% reduction in workforce due to market volatility (2/10/23)
AmCap Mortgage acquired Oz Lending, Orange Mortgage and Rev Mortgage brands (2/9/23)
Town Square Mortgage to merge with American Portfolio Mortgage (2/9/23)
Chase to cut 310 additional mortgage jobs (2/8/23)
11/2023 CITIGroup
I haven't updated this list in a couple months
Country Club Mortgage
Pennymac let 80 people go
RealiFI closed and stole salaries
Dovenmuehle laid off 290 people
PNC laid off 90
First Savings Bank laid off 122
NewRez laid off 113
People's Bank of Commerce shut down mortgage laid off 98
Regions Bank shuts down three mortgage offices and 167 people gone
Republic First out of lending laid off 99
HomePoint laid off 200
Citigroup laid off 455
Rocket 1411 people cut
UWM 600 cut in first wave then 300 more
Homebridge lets go 2130 people
Draper and Kramer down 1/2024
Fairway fires everyone in wholesale 1/2024
