AM I NEXT? NO LOVE AT NEWREZ (06/08/24)

JUNE 8, 2024 — 317 EMPLOYEES IN GREENWOOD, COLORADO

In a post-acquisition reduction in force, the company is laying off 317 employees at its Greenwood Village, Colorado, facility, a former Specialized Loan Servicing location. Separations will commence on August 2, 2024.

MAY 20, 2024 — Original blog post…

Fort Washington, Pennsylvania-based Newrez, a nationwide mortgage lender and servicer owned by asset manager Rithm Capital, has announced layoffs in Greenwood Village, Colorado, and Jacksonville, Florida.

The layoffs, scheduled for July 1, 2024, will impact 103 employees at the company's Greenwood Village office and 53 jobs at its Jacksonville office, including processors, underwriters, loan officers, and legal and secondary marketing operations.

The layoffs follow the acquisitions of Computershare Mortgage Services and its affiliate, Specialized Loan Servicing.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT COUNTRY CLUB MORTGAGE

Visalia, California-based Country Club Mortgage, a residential mortgage, underwriting, and loan processing company, has announced facility closures and a mass layoff.

The layoffs target 105 California staffers in Visalia (69 in total), Fresno (24), Hanford (3), Exeter (3), and Selma (6), including underwriters, processors, disclosure and document specialists, and the company's management– the president and CEO, the finance manager and the credit risk officer.

It is unclear if Vero Mortgage, a division of Country Club Mortgag, is also involved.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT REALFI HOME FUNDING CORP

White Plains, New York-based RealFi Home Funding Corp, a technology-driven residential mortgage originator, reportedly has executed a mass reduction in force and stiffed its employees as it struggles with legal problems, reduced origination volumes, high interest rates, and problems with its wholesale credit lines.

Employees received an email on December 28, 2023, from Chief Operating Officer Jodi Mosiello, noting that RealFi was unable to honor its commitment to pay the owed salaries due to unprecedented circumstances. “Unfortunately, at the present time, RealFi does not have the funds to pay the monies owed to its employees. As money comes in during the restructuring, it is RealFi’s intention to make all employees whole.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?