Better cuts mortgage sales team 2 weeks after $500M SPAC raise
The lender has become more reliant on its B2B channel, with partnerships alongside companies like Ally Bank and American Express accounting for nearly half of its mortgage originations
by Matt Carter Sep 25
Divvy Homes letting 95 employees go, including senior managers
The third round of layoffs in the last 12 months takes effect Nov. 7 and affects employees in 21 states, including Divvy's chief legal officer, vice president of compliance and head of design
by Matt Carter Sep 11
Divvy stays mum as employees report a new round of layoffs
At least 7 former employees posted on LinkedIn Thursday to say they had been laid off from the rent-to-own company
by Ben Verde Sep 8
RE/MAX Holdings to lay off 7% of staff by end of September
The layoffs are part of a reorganization plan that will streamline operations and bring cost savings in the long term, the real estate franchisor said in Securities and Exchange Commission filings
by Lillian Dickerson Aug 23
LoanDepot hires new CFO and parts ways with 4 top managers
CEO Frank Martell recruits former CoreLogic colleague David Hayes and streamlines management ranks as losses pile up and mortgage originations hit another new low
by Matt Carter Jun 5
Offerpad narrows losses despite another quarter of falling revenue
Following a dramatic fourth quarter in which the iBuyer posted losses of $121.1M, Offerpad improved its net loss by 51% to $59.4M in Q1 as it continued to struggle to adapt to a shifting market
Eyes on inventory as Q1 earnings ramp up following a chilling 2022
Jay McCanless, a senior vice president of equity research at Wedbush Securities, reveals what he'll be watching as publicly traded real estate companies post Q1 earnings this week and next
by Jim Dalrymple II May 3
In total, the company cut 560 positions, according to a statement Opendoor provided to Inman. The cuts, which were announced internally Tuesday morning, mostly focused on operations roles
by Jim Dalrymple II Apr 18
Redfin lays off 201 staffers in third round of 'painful' cuts since June
The brokerage said employees impacted by the latest round of layoffs were primarily in the real estate support department, but some unidentified executives were also let go
by Ben Verde Apr 13
Rocket, UWM cut a combined 9,500 positions in 2022, new filings show
Companies say that instead of laying off workers, they're trimming their payrolls through attrition or by offering voluntary buyouts
by Matt Carter Mar 3
Wells Fargo lays off hundreds more, including some top producers
The bank says it has racked up $353M in severance expenses, primarily in mortgage, as it closes branches and pursues a 'more focused home lending business'
by Matt Carter Feb 24
Divvy Homes' employees say there has been another round of layoffs
Although Divvy has not yet responded to requests for comment, a half-dozen former employees posted on LinkedIn that they were laid off Wednesday
by Matt Carter Feb 15
Cost cutting and existentialism: What to expect from earnings
Large publicly traded real estate companies are about to share their numbers from the most brutal quarter in years. Analysts are bracing for the worst — and watching to see who can thrive
by Jim Dalrymple II Feb 15
Offerpad cutting more jobs in conjunction with $90M raise
Struggling iBuyer confirms the company has laid off an unspecified number of employees in a second round of layoffs, with more details coming on Feb. 22 Q4 earnings call
by Matt Carter Feb 2
Wells Fargo lays off 140 as it backs out of correspondent mortgages
In a Worker Adjustment and Retraining Notification, the company outlined its plans to reduce its workforce size. The company began executing the plan Tuesday in Springfield, Illinois
by Ben Verde Feb 2