Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook


The Big Four Layoff Trickle Down Theory

Layoff Notice Pic

We typically hear about the big four laying off workers by the thousands. It’s not unusual to see Wells Fargo kicking a bunch of the staffers of their mortgage department to the curb. JPMorgan? No big deal, they’ll just cut 13,000 jobs by 2015.Click to continue

Q2 Mortgage Layoffs Outpace Hirings by Nearly 3,000


Declining a decline in the national delinquency rate drove servicers to reduce staff in the second quarter of 2013, according to the Mortgage Employment Index from Mortgage Daily. The biggest casualties were suffered by the largest servicers, while up-and-coming servicers added to their payrolls. The pain is likely to deepen in upcoming quarters.Click to continue

Nationstar Posts 40 Percent Q2 Jump in Overall Business


Nationstar’s quarterly income rose to over $123 million, somewhat surprising numbers, when compared to the $62.6 million total in the first quarter of 2013 and $36.3 million in the second quarter 2012.Click to continue

John Sayre to Lead Business Development at Vericrest


Vericrest Financial Inc. has announced that John Sayre has joined the company as senior vice president of business development. Sayre brings 25 years of experience in the mortgage banking industry to his new role, in which he will focus on identifying and pursuing new business and strategic opportunities including subservicing transactions and the acquisition of mortgage servicing rights.Click to continue

HOPE NOW Event Assists Nearly 3,500 At-Risk Nevada Homeowners


A two-day homeownership event held in Las Vegas drew 3,500 Nevada families seeking mortgage assistance. HOPE NOW, Nevada Gov. Brian Sandoval and more than 20 local organizations hosted the event, which allowed at-risk homeowners the chance to meet face to face with their mortgage servicer or a local non-profit housing counselor. The event, held at the Cashman Center, hosted 1,420 families on day one of the event and saw 2,019 homeowners come through the doors on the second day.Click to continue