Operations

Adding $84B servicing portfolio; Home Point operations to shut down after deal closes.

Will include an unspecified number for a 'reduction in force' in its lending and credit teams.

CEO says stock is undervalued, sees opportunity to 'further diversify our business model.'

Reductions come as top U.S. mortgage originator posted a loss in fourth quarter.

Retiring CEO, other top executives all received large raises in 2022.

Deal follows February announcement of acquisition of Rushmore parent, Roosevelt Management Co.

Meeting expected to formalize settlement that expanded board; also files annual report showing it cut staff by 54% in 2022.

Fairway CEO says the group of 40 was let go for 'lack of production'

Florida-based bank acquiring mortgage assets, staff of N.D. bank.

The plans are intended to promote sustainable homeownership and rental opportunities for underserved communities of color nationwide.