The merger and the consolidation of the mortgage industry would not only reduce the ability for Latinos to participate in homeownership, the effects could cascade to the overall population writes the CEO of the National Association of Hispanic Real Estate Professionals

The company's India office was not impacted by the recent layoff, sources say.

The latest move from the lender comes after a recent purchase of a Massachusetts brokerage and the appointment of several new leaders.

Amid scuttlebutt, the Atlanta company is mum on buyer, which is rumored to be CrossCountry Mortgage.

Although mortgage lending has been under pressure due to rising rates, executives said they've seen "consistent demand or even increasing demand from a depository perspective."

Other firms disclosing cuts in Worker Adjustment and Retraining Notifications include American Advisors Group and Pennymac.

Former employees say the New Jersey-based lender had its biggest reduction round yet, impacting close to a thousand positions.

Of 26 fired employees in a layoff round, 17 were either currently on paternity or maternity leave or planning to take it in the near future, according to the legal filing.

The company is floating the possibility of selling a portion of its loan portfolio to free up liquidity in coming months, leaders said.

Both lenders did not disclose how many positions have been terminated.

A Worker Adjustment and Retraining Notification identified 100 CCM employees impacted, a filing the company has since requested be removed and claims was posted by a former employee.

The acquisition, which was originally expected to close at the end of last year, ultimately took more than 18 months to receive regulatory approval. It is now expected to close on Dec. 1.

The writing on the wall says the market will deteriorate further, the company's executives said in a written statement.

The lender reported a 24% drop in volume quarter-over-quarter but said it compared favorably to the average 29% decline projected by the Mortgage Bankers Association.

The new recruits mainly cover the East Coast.

Leaders of its parent company touted the success of subscription models and also made a case for its proposed merger with Black Knight in an earnings call

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

The lender and servicer had already reduced its funding capacity for originations by a combined $1.5 billion before its latest disclosure.

The firms trimming payroll include lenders, a mortgage insurance giant, an iBuyer and an online notarization software provider.

A growing number of economists and lawmakers think the Fed has gone too far in its battle against inflation. Powell is worried it hasn't gone far enough.