Only a few home lenders have moved to settle the legal claims, while many have denied wrongdoing.

Other positions are being eliminated nationwide, with just 50 to 60 people remaining to manage the company's mortgage servicing rights.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.

The company counts nearly 2,000 employees on LinkedIn, and operates two wholesale divisions alongside the impacted retail channel.

The San Francisco bank said the move is designed to "foster closer alignment with the shareholder experience and signal commitment to the bank and all of its stakeholders." The company's stock price has fallen 89% this year, and government officials have reportedly been working with industry leaders on a rescue deal.

The mega-lenders headcount was 5,194 at the end of the fourth quarter

Benefits like paternity leave are more widely available in the field but there's further to go, industry stakeholders say.

More than 90% of appraisers are white, and researchers have found that bias leads to lower valuations for homeowners of color. A Flagstar executive said the mortgage-focused bank is "not just going to sit on the sidelines and watch this happen."

The disclosures follow full year and fourth quarter earnings reports in which each company revealed big declines from booming performances in 2021.