A List of Companies Affected in the in 2022 ' s Fourth Fiscal Quarter
USAA Bank cut 130 mortgage jobs in San Antonio , TX ( 2 / 2 / 23 ) Flagstar Bank to close all “ out of footprint ” locations , leading to 69 % reduction in retail home lending offices , layoffs ( 1 / 31 / 23 ) Umpqua Bank to lay off half its home lending team ( 1 / 30 / 23 ) Reverse Mortgage Funding to lay off 65 in Bloomfield , NJ ( 1 / 27 / 23 ) First Internet Bank to exit consumer mortgage business , possible layoffs ( 1 / 27 / 23 ) American Pacific Mortgage purchased the assets of Lend Smart Mortgage ( 1 / 26 / 23 ) Clear Capital to cut about 250 jobs in Reno , NV ( 1 / 26 / 23 ) Wells Fargo Home Mortgage to cut 140 jobs in Springfield , IL ( 1 / 18 / 23 ) North American Savings Bank ( NASB Financial Inc .) to exit consumer direct home lending business , layoffs ( 1 / 13 / 23 ) Blend Labs to lay off another 28 % of employees ( 1 / 11 / 23 ) Silvergate Bank to cut 181 jobs in La Jolla , CA ( 1 / 10 / 23 ) Wells Fargo to exit correspondent lending channel ( 1 / 10 / 23 ) Union Bank mortgage layoffs related to U . S . Bank merger ( 1 / 10 / 23 ) AmeriFirst Financial ( AZ ) to shutter operations ( 1 / 6 / 23 ) Legacy Bank & Trust acquired Crain Mortgage Group LLC , rebrands as Legacy Capital ( 1 / 1 / 23 ) Union Home Mortgage acquires Amerifirst Home Mortgage ( 12 / 21 / 22 ) UMortgage to acquire NXT Mortgage Co . ( 12 / 19 / 22 ) Amerifirst Home Mortgage to eliminate 59 jobs in Portage , MI ( 12 / 13 / 22 )
Reverse Mortgage Funding to lay off 44 in Rancho Cordova , CA ( 12 / 9 / 22 ) Reverse Mortgage Funding to let go of 119 workers in Melville , NY ( 12 / 9 / 22 ) Union Bank to exit wholesale lending after U . S . Bank takeover ( 12 / 8 / 22 ) Finance of America to acquire the assets of American Advisors Group ( 12 / 7 / 22 ) Doma to eliminate 515 positions , or about 40 % of the company ( 12 / 6 / 22 ) Interfirst Mortgage to let go of 75 employees in Rosemont , IL ( 12 / 6 / 22 ) Athas Capital to lay off 25 in Alpharetta , GA ( 12 / 6 / 22 ) Reverse Mortgage Funding to let go of 233 employees in Newburgh , NY ( 12 / 9 / 22 ) Wells Fargo to cut hundreds of mortgage jobs nationwide ( per Bloomberg ) Guild Mortgage to acquire Inlanta Mortgage , 62 layoffs in Pewaukee , WI ( 12 / 1 / 22 ) Reverse Mortgage Funding LLC files Chapter 11 bankruptcy , 233 layoffs ( 11 / 30 / 22 ) BayCoast Mortgage to acquire Martha ’ s Vineyard Mortgage ( 11 / 30 / 22 ) Homepoint to eliminate 10 jobs in Clearwater , FL ( 11 / 19 / 22 ) Homepoint to shed another 49 jobs in Dallas , TX ( 11 / 18 / 22 )
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