General World News

US Bank imposes mortgage layoffs

Minneapolis-based U.S. Bank, the fourth-largest U.S. mortgage lender, is laying off staffers in its mortgage division this week, a spokesperson confirmed on Tuesday. 

The announcement follows a decline in its mortgage originations in the first quarter of 2023 – the second-quarter earnings will be released on Wednesday morning.

The current jobs cut also comes amid rumors that depositary lenders would see changes to their residential mortgage capital requirements under the Basel III regulations.  

“At U.S. Bank, we make decisions that position us well for today’s market and in the future,” a spokesperson told HousingWire. “As a result, we have details ⇒

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