The Irving, Texas-based lender is also reportedly in negotiations to sell its retail mortgage division, which employs about 1,000 loan originators nationwide
Executives are concerned about reputational risk of correspondent lending channel, which has historically accounted for as much as half of the bank's home loan business, Bloomberg reported
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
Powered by Accept.inc, Homepoint Cash Compete program is available at launch in six states: California, Colorado, Minnesota, Oregon, Texas and Washington
The layoffs come as Pennymac ups its investment in technology and marketing to help it do more business directly with consumers and mortgage brokers
Amerant Bank launched its mortgage joint venture with industry veterans who share a vision of a 'highly efficient, and profitable nationwide mortgage banking business.'