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Homepoint cuts 100 more jobs amid sluggish market

MPA reached Homepoint spokesperson Brad Pettiford to confirm the development. “Yes, I can confirm that we did some reductions last week and filed WARN notices in four states, and it impacted about 100 people,” he told MPA. In addition to Texas, Pettiford said, jobs in Arizona, Florida and Michigan also experienced cuts.

The cuts come two months after the elimination of more than 500 jobs for the Michigan-based lender as the residential mortgage originator and servicer deals with worsening market conditions.

Layoffs for the nation’s third-largest wholesaler were originally disclosed in an 8-K filing at the end of August as the company described its aim to save $100 million on an annualized basis after having posted a $44.4 million loss in the second quarter amid a climate of higher interest rates and intensified competition in the wholesale space that has applied pressure on margins.

A previous WARN Act filing alerted to the layoff of 526 workers, a number not previously specified. At the time, Pettiford told MPA that starting in November, the company would slash 217 jobs at two offices in Ann Harbor, Mich.

Read more: More than 500 to be laid off at Homepoint

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