An executive at the firm also signed a $475,000 judgment against it from another mortgage player, although a federal judge has yet to sign off on the agreement.

Despite the reduction from last year, "there are some signs that that production is coming back" in mortgage, the bank's CEO said.

He replaces Phyllis Caldwell, the former Treasury official who took the position in February 2016 and helped guide the company through the 2017 federal and state lawsuits.

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.

A panel discussion with executives from Boston Consulting Group reinforced the view that regulators will allow the deal to proceed, Keefe, Bruyette & Woods said.

An extension would give the companies an additional six months beyond a current March deadline to complete the transaction.

Some of the employees impacted are from recently acquired SimpleNexus

The migration to Empower LOS from the public company's own independent system should be completed by 2024.

To monitor the health of lenders still operating, industry watchers should observe firms' abilities to meet covenant requirements, renew warehouse lines of credits and their activity in the mortgage servicing rights market, said Brian Brown, chief financial officer at Rocket Companies.

Plaintiffs allege that the Plano, Texas-based lender failed to adhere to WARN requirements when it laid off employees "without cause" or notice in June.

The Pittsburgh bank posted a solid profit and said that it expects continued loan growth. But the pace of business expansion could slow alongside an economic downturn.

Greater scrutiny of nonsolicitation clauses and a higher burden for poaching lawsuits is expected, a handful of attorneys said.

Marianne Sullivan will be charged with overseeing the start of the second phase in a multi-year plan to develop cloud native technology at the servicing software company.

A former branch manager allegedly directed 15 loans worth $7 million to the Ohio-based adversary during a three-month period.

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 survey of 100 lenders in December found that almost half (47%) of the participants closed a loan package using digital solutions, such as eSignatures and remote online notarization.

The move, which comes with an unspecified number of layoffs, is expected to cost the company $3.8 million to $4.6 million in pretax charges in the second quarter.

Company president and former Fannie Mae CEO Tim Mayopoulos will step down in the first quarter, one of four few resignations among leadership this month.

The company will also be reducing its servicing portfolio.

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