The layoff round, which a spokesperson said represents "less than one quarter of one percent of the roles in the company," comes after Rocket announced a 20-person reduction in the marketing team in early January.

The department wants to make changes to its reconsideration of value process by giving Federal Housing Administration borrowers the opportunity to seek a second appraisal

The majority of the positions impacted at the lending arm of real estate firm Keller Williams were related to loan processing, according to a company spokesperson.

A month after the National Community Reinvestment Coalition blasted KeyBank's mortgage lending record to Black borrowers, the group said it will send letters to the Federal Reserve and OCC about its findings.

A spokesperson confirmed that close to 20 positions were terminated due to a "reorganization" but denied that there are plans to eliminate more jobs.

The Arizona-based lender has been in business for 35 years and has branches in over 20 states.

In recent weeks, Miami-based Lendmarq has swept up more than a dozen staff members.

Banks and other lenders revived special-purpose credit programs after racial-equity protests in 2020 prompted them to reexamine their services for historically underserved groups. Now they're taking those initiatives nationwide.

The firm said it would still originate and service loans out of the office where the cost-cutting measures will occur.

The laws dictating advance notice of mass terminations include various exemptions for employers and suggest employees seek any recourse through legal action.