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Around 100 staff members were laid off, according to a source that works for the company.
Company also launches 4EVER Wholesale campaign to celebrate more than 30 years of serving lenders and brokers.
Fitch downgrades two nonbank residential mortgage lenders.
Joins loanDepot in reducing capacity by around $1billion.
Also mutually agrees to end negotiations with Guaranteed Rate over sale of retail mortgage divison.
The nation's second-largest retail nonbank lender has now cut $1.5 billion in capacity since mid-August.
