Another round of mortgage industry layoffs will hit Charlotte this summer. The cuts were part of “internal restructuring” moves that included discontinuing FirstBank’s digital mortgage channel Real Genius, the bank told The Charlotte Observer last week. The layoffs included more than 20 roles in mortgage underwriting, processing, sales and other areas, according to the WARN Notice. Other mortgage firms’ layoffsIn Charlotte and beyond, mortgage lenders big and small have been battered by a sharp rise in interest rates on home loans. Movement Mortgage, based near Charlotte in Indian Land, S.C., laid off about 170 employees this spring, according to a report from trade publication HousingWire.

Source: The Guardian June 09, 2022 10:40 UTC