General World News

Mr. Cooper cuts more jobs as origination outlook dims

Top-10 residential lender and servicer Mr. Cooper has cut another 420 jobs, the second major layoff it has made this year.

In a disclosure made public Thursday afternoon, the company said the cuts amounted to 5% of its employee base. Most of the job losses will hit the originations side of the business. About 16% of the staff losses will affect California staffers, and will take effect in July.

“It is with deep regret that we needed to eliminate positions as part of our efforts to manage costs and ensure we position the company for long-term success,” details ⇒

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