BankUnited stops making retail mortgage loans, lays off workers

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Mortgage banks, like many other companies, experience fluctuating levels of business and must respond with an ebb and flow of employees. In the aftermath of the housing bubble, new employees were hired to handle the rush of loan modification and refinance applications.

In December 2007, Centro’s stock tanked when a slew of creditors-banks and institutional investors-swiftly confronted a grave combination of mounting loan defaults. choice to manage the retail.

Division was closed and 1/3 of the staff was laid off in April, as part of business review to cut losses, yet corporate announced several promotions and increases right before we were let go & the company celebrated 10 year anniversary with many events posted on social media, making those of us laid off a month prior feel unwanted & ignored.

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Spanish business people, upper middle class families and their loan guarantors. two labor market reforms to make it cheaper to lay off traditionally secure workers are expected to accelerate the.

BankUnited will no longer offer retail residential mortgage loans to consumers, according to an article in the Miami Herald.. The South Florida bank announced it also laid off some its workers.

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Mortgage Lenders Lay Off Workers [Oct 29, 2007.] The mortgage industry has been hit hard by layoffs recently – the result of the nation’s massive housing crisis. The consulting firm known as Challenger, Gray & Christmas Inc. reports that more than one-third of the 71,739 announced layoffs in September came from the mortgage sector.

Direct Lending vs Wholesale - Applying for a Home Loan? Whats the difference - Home Buying Tuesdays Combined, the three lenders have laid off more than 200 employees in North Texas and 11,000 across the country. In February, wells fargo cut more than 700 mortgage-related jobs, while JPMorgan Chase said it plans to cut 8,000 jobs by the end of the year as the mortgage business shrinks and it aims to control costs.

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