Layoffs

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

Opendoor Technologies Inc. is laying off about 550 employees after higher mortgage rates cratered U.S. housing demand.

The Connecticut mortgage vendor announced that after an exhaustive process of evaluating all options, it has decided to "cease doing business."

Lender Finance of America, which reported steep losses in the first half of the year, is also reportedly mulling a massive staff reduction.

The move follows two consecutive quarterly losses for the REIT and comes just days after its sister non-QM lending business laid off 20% of its staff.

CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.

One of the largest U.S. mortgage firms catering to riskier borrowers slashed 70% of its workforce, signaling a deep slowdown in that business.

JPMorgan Chase & Co.'s Mike Weinbach, chief executive officer of the home-lending business, is departing the firm after 16 years.

1st Alliance Lending is officially closing, but its CEO still plans to fight Connecticut's allegations that it used unlicensed personnel to take mortgage loan applications.

Santander Bank's U.S. unit will be eliminating 80 mortgage-related positions as it withdraws from the third-party origination sales channel and refocuses on producing home loans through its branch network.