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10-Q filings with the SEC reveal additional information regarding the financial wherewithal of public mortgage lenders in the second quarter.

While the company made headway in reducing operational costs, it incurred several million dollars worth of expenses as it dealt with the January incident.

The lender and servicer is still in the red but trimmed its expenses, and overall losses, significantly in 2023.

The case is the second filing in West Virginia this year involving similar fees, as courts and regulators nationwide look to crack down on the servicing practice.

Also, lenders Click n' Close, Lower add c-level executives, Southern Bancorp embarks on expansion of mortgage division and Formfree finds new director of marketing.

The lender and servicer is still planning for another $120 million in annualized expense reductions in the next few quarters.

Also, Appraisal Institute appoints new CEO, Common Securitization Solutions names technology officer and two new lenders move into reverse mortgage.

The lender and servicer posted its highest pull-through weighted gain-on-sale margin in almost two years while recording modest production growth.

Also, Cenlar welcomes client management leader, NFM promotes influencer-marketing executive and Guzzo & Co. hires transgender chief operations officer.

The changes bring in a chief financial officer from CEO Frank Martell's former company, CoreLogic, while removing four execs with ties to founder Anthony Hsieh.

The country's third-largest originator saw revenue tick up in the first quarter off of higher servicing income and more pull-through weighted rate lock volume from lower average interest rates, it said.

The moves include switching a $300 million servicing rights facility from failed depository Signature Bank to Flagstar Bank.

Per the settlement, the board of directors will expand its headcount to nine, opening the door to include Steve Ozonian, CEO of Williston Financial Group.

Other mortgage players this week have distanced themselves from the banking chaos with statements disclosing that they had no relationships with the failed companies.

Executives at the company pointed to market volatility, year-end seasonality and its exit from the wholesale channel as reasons for the deficit.

The company has incurred a combined $91.8 million in expenses in the past two quarters related to its massive cost-cutting plan, which included the layoff of thousands of professionals.

Also, FHFA promotes two key staff members, Cenlar welcomes servicing veteran, while Remax and CMG Financial's joint venture names its president.

The lending and servicing giant is also amping up cost-saving efforts with more layoffs after reporting a net loss of $223.8 million in the second quarter.

Forecasting that it will not turn a profit in the 2022 fiscal year, the company plans to make job cuts, suspend dividends and introduce new products.

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