Retail lender and servicer Mr. Cooper has dropped the ax on approximately 800 staffers, roughly a week after hinting that job cuts were coming due to lower origination production.

“In the face of market volatility and economic uncertainty, Mr. Cooper Group has taken a disciplined and proactive step to scale back the Originations business, including the elimination of approximately 800 positions,” the company said in a statement. “By aligning our originations operations to the smaller mortgage market, we can thoughtfully and effectively meet the needs of our current customers.” 

Mr. Cooper last week reported that its profits in details ⇒

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