Staff reductions at mortgage firms have been relatively mild over the past few months. Conditions appear ripe, however, for an acceleration.

Prospect Mortgage LLC advised the California Employment Development Department on Dec. 2, 2016, about 94 permanent layoffs.

The disclosure was required by the Worker Adjustment and Retraining Notification Act when there will be at least 50 layoffs within 60 days.

Source: Mortgage Daily