Mortgage rates rose to the highest levels this year as job growth gained momentum.
The average rate for a 30-year fixed mortgage was 3.86%,
The average 15-year rate climbed to 3.1% from 3.03%, the McLean, Va.-based mortgage-finance company said.
Borrowing costs tracked an increase in yields for 10-year Treasuries, which climbed last week after the Labor Department reported that 295,000 jobs were added in February and the unemployment rate fell to 5.5%, the lowest in almost seven years.
The rightsizing measures impacted workers in Colorado and Florida who worked at acquired Computershare Mortgage Services and its affiliate Specialized Loan Servicing.
Former Angel Oak Lending Chief Marketing Officer Steven Winokur has come back into the non-qualified mortgage business by taking a marketing role at Carrington Mortgage Services.
The process of making changes to foreclosure prevention programs has been complicated by differences in how the Department of Veterans Affairs operates compared to an agency like the Federal Housing Administration.
Originators increased program offerings for the fifth consecutive month, but overall credit availability remains tight, the Mortgage Bankers Association said.
Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
