General World News

Flagstar Bank makes big cuts to retail mortgage operation

Two months after receiving the Federal Reserve’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employees. 

“I just got news this morning that the company is scrapping retail outside of where the bank footprint is,” a former Flagstar Bank regional manager posted on social media. 

A former mortgage underwriter wrote, “Flagstar just laid off everyone, so after 2 1/2 years, I’m back in the job market.”  

Layoffs occurred on Thursday morning with no warning, according to former employees. details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com