The steady drumbeat of dour news in the mortgage industry punctuated by headlines announcing layoffs and closures among the ranks of independent mortgage banks continues to play out, with several lenders over the last two weeks adding to the torrent of pink slips.

Rising interest rates, sparked by Federal Reserve tightening policies, is the primary cause of the mortgage-finance industry’s pain right now. Last week, mortgage lender and servicer Mr. Cooper disclosed that it was laying off some 800 staff. 

Some 80% of the volume in our industry is done details ⇒

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