Despite a projected drop in home-lending activity this year, there have been few mass layoffs so far in the industry. Two bank mergers will result in job cuts.
Economic forecasts for the mortgage industry have loan originations tumbling from around $2 trillion in 2016 to roughly $1.6 trillion this year.
The lower expected activity is the result of rising interest rates that will drive down refinances. Such reductions are typically followed by industry layoffs.
Source: Mortgage Daily
