Movement Mortgage said to lay off 150-plus employees amid slump
Movement Mortgage is staying mum on a report saying the company recently laid off more than 150 employees.
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A HousingWire report said Movement is laying off operational staff nationwide, including those in processing, underwriting and closing. The report cited multiple company sources. It is unclear how many of those cuts were at the local office.
Layoffs in the mortgage industry are a growing trend nationwide, as interest rates start to rise and origination volumes cool down. Mark Vitner, senior economist at Wells Fargo, attributed the industry slump to a decline in mortgage refinancing.
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