The headcount reduction comes one month after more layoffs in Colorado and Florida.

With millions of Black and Hispanic consumers likely to become new homeowners over the coming decades, the lending community stands to benefit if they are willing to combine expanded underwriting with direct outreach.

In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.

The total compensation of the highest paid CEO among the largest nonbank mortgage lenders in the country was $30.3 million in 2023, up by nearly 300% versus 2022.

Home lenders are taking a hard look at fulfillment compensation due to persistent profitability strains while keeping in mind growing compliance considerations.

Rocket Mortgage entered into an agreement with the Department of Housing and Urban Development and will pay the consumers $65,000 to resolve the matter.

A good compensation package is a key recruitment and retention tool, but the agreements have to be sustainable to be successful.

The rightsizing measures impacted workers in Colorado and Florida who worked at acquired Computershare Mortgage Services and its affiliate Specialized Loan Servicing.

Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.

Though written before the internet era, the book about working at Salomon Brothers in the 1980s that launched Michael Lewis' writing career still holds important lessons about the true costs of success.

Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.

As part of the settlement, Loandepot will beef up its appraisal policies and practices, it announced.

The Justice Department and the CFPB are increasingly relying on emails among employees that contain discriminatory comments to strengthen their hand in cases against lenders.

The board has reduced some aspects of Rithm CEO Michael Nierenberg's pay, but also significantly raised the performance-based component.

Through wellness dollars provided by their insurance partners, companies have been able to add onsite gyms and introduce raffles and challenges aimed at improving staff fitness.

A mixed-race couple claims a "whitewashed" valuation in 2023 returned a price 39% higher than the depository-approved result a year earlier.

Across the nation, over 700,000 Black families are "income mortgage-ready," or able to spend 30% or less of their income on a home loan for the typical house in their local market.

Significantly more Americans own a home now than a decade ago, but the disparity between Black homeownership rates and those of other racial and ethnic groups has grown wider, according to the National Association of Realtors.

A look at Home Mortgage Disclosure Act data of similarly situated conforming applicants also finds some lenders' own comments for the rejection doesn't match up with the reason given, the Federal Reserve Bank of Minneapolis said.

The company declined to provide an estimate of how many senior executives were impacted by the reduction and called it "a flattening of the organization."