by Greg Wasik | Oct 14, 2022 | Los Angeles Real Estate and Appraisal News
Real estate appraisal and technology firm Clear Capital yesterday laid off over 25% of its current workforce due to the rapid decline of the lending market. Clear Capital provides human-written appraisals and automated valuations as well as inspection reports. The...
by Greg Wasik | Aug 10, 2022 | Los Angeles Real Estate and Appraisal News
loanDepot a major non-bank lender has cut 4,8000 jobs in 2022 so far. According to a filing with the SEC, they plan to drop from 11,300 employees to 6,500 by the end of 2022. “In 2020 and 2021, like other mortgage companies, we scaled our organization to meet the...
by Greg Wasik | Jul 12, 2022 | Los Angeles Real Estate and Appraisal News
Sprout Mortgage a major non-QM lender, told more than 300 workers last week that it would be shutting down in a conference call. Prior to this there already had been job cuts in April and June. Prior to the closure, the president of Sprout, Shea Pallante, told...
by Greg Wasik | Jul 6, 2022 | Los Angeles Real Estate and Appraisal News
The sales and home prices in Southern California appear to have been edging lower in the month of June over the month of May. This adds to all of the mounting evidence that a major housing slowdown is pulling the SoCal home values even lower every single day. In fact,...
by Greg Wasik | Jul 1, 2022 | Los Angeles Real Estate and Appraisal News
Showing the impact of rising interest rates in the real estate market, PIMCO-backed FGMC last week laid off 80% of its approximately 500 employees. According to one employee they are no longer accepting new mortgages which suggests the firm will be shut down. In a...
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