Lender hopes to cut up to $400M in annual expenses and become profitable by the end of the year, after rising mortgage rates gut profitable refinancing business
Digital marketing company Adwerx is the latest company to announce layoffs, with 40 employees losing jobs on Thursday. Adwerx said the layoffs are the result of scaling back on new initiatives
The company announced job cuts Wednesday, saying it needed to focus on growing in a 'sustainable way.' Numerous other companies have also cut jobs as the housing market shifts
Sundae, which lets homesellers sell their properties as-is to investors without hiring a real estate agent, said layoffs were targeted to its newest markets
Non-QM lender fires three-quarters of its workforce, saying it's experienced 'significant operating losses and cash flow challenges' and has been unable to obtain funding
Power Buyer confirms that it intends to fill approximately 50 openings in its mortgage, real estate brokerage, marketing and finance departments
Opinion
Recent headlines have been filled with news of layoffs, but look closer. The companies where layoffs are occurring are wholly unrepresentative of the real estate industry and don't represent a major trend
The slowing demand for homes is affecting the balance of power between buyers and sellers, according to 2 new reports from Redfin
Inman spoke with Oppenheim Group founder Jason Oppenheim and vice president Mary Fitzgerald about market turmoil, layoffs and the road forward ahead of Connect Las Vegas
The housing industry has shed thousands of jobs recently, and more cuts may be in store. But some companies are handling the situation better than others
Opinion
Laughing and cheering at the expense of others, whether those others are real estate professionals losing their jobs or celebrities embroiled in abusive situations, has no place in this industry
Investors warned of 'break even' second quarter as rising mortgage rates put a bigger-than-expected dent in loan originations
While real estate industry layoffs largely began with companies that provide mortgages and mortgage-related services, everyone from Adwerx to Zumper has been impacted by the downturn
Sale of Xome subsidiary could be in the works as lenders boost foreclosure filings and auction platform's distressed property inventory swells to record levels
Although Wells Fargo executives did not explicitly mention impending layoffs during a Q1 earnings call on Thursday, the company has been closing branch offices