People

Loan officers, processors and closers were impacted, a source said. What remains is a "skeleton crew" to run operations.

The New York-based startups also undertook large headcount reductions in the spring.

While mass firings abound, the employment situation is not moribund for those with certain skills sets in demand.

Also, LoanLogics sees changes at the top, the Mortgage Bankers Association promotes three and Synergy One, Falcon Capital name general counsels.

Those left unemployed say lenders have in some cases cut off critical health insurance retroactively or denied severance or an earned PTO payout. Meanwhile, three firms are accused of skirting WARN disclosures providing advance notice of mass terminations.

Bank regulators are considering a measure that would rewrite the rules implementing the Community Reinvestment Act. They should consider taking their existing rules seriously.

Redfin Corp. is shuttering its iBuying business and laying off workers for the second time in almost five months, as the likelihood of a prolonged U.S. housing slowdown continues to ripple through the industry.

It came as a surprise to many housing experts that Asian, Black and Hispanic homeownership rates all jumped last year by more than 2 percentage points, according to quarterly Census Bureau data.

The new recruits mainly cover the East Coast.

The most recent cuts bring the company's total headcount reduction to over 1,000 employees this year.