General World News

NewRez lays off 386 following Caliber acquisition

Powerhouse lender and servicer New Residential Investment Corp. has reduced hundreds of job positions in its mortgage division, less than a year after acquiring the multichannel lender Caliber Home Loans.

In total, NewRez LLC, the publicly traded company’s mortgage arm, is laying off 386 employees, about 3% of the division’s workforce, a company spokesperson confirmed Tuesday.

“As we continue to create synergies between companies, we are creating a structure to streamline business channels and create long-term growth,” the NewRez spokesperson wrote in an email to HousingWire.

News of the layoffs comes just weeks after details ⇒

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