The mortgage industry has seen cuts across multiple companies. The latest company to join the list is Mr. Cooper Group, formerly Nationstar Mortgage. Despite a recent merger with WMIH Corp. and plans to acquire Pacific Union Financial and IMB's Seterus platform, the company will be laying 109 mortgage employees in California.
"The details of the layoffs come courtesy of a Worker Adjustment and Retraining Notification Act notice filed with the state of California," according to HousingWire.
"According to the details provided in the WARN notice, the layoffs are in Santa Ana and are categorized as “layoff permanent."
HousingWire also reported that Mr. Cooper will also be making cuts to its originations operations in the future.
“We recently restructured some of our departments within our originations organization and, while we regret a small number of positions were eliminated, we believe our changes will further our strategic goals and best position us for continued growth in the market,” said the company, according to the report.
To learn more about these cuts, click on the image above.