Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California

Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California
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Saturday, April 23, 2022

Mortgage Market Layoffs Due to Interest Rate Increases, Economy by Mary Cummins Real Estate Appraiser

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In the past three months in the mortgage industry there have been more than 3,500 job cuts, according to globalsg.com. Wells Fargo just confirmed it recently laid off approximately 550 mortgage processors. This follows JP Morgan Chase, Homepoint Capital (10%), New Residential Investment Corp (NewRez 386 or 3%), Penny Mac, Knock, Movement Mortgage, Blend Labs Inc (200 or 10%) and Better who laid off 900 then 3,000 more recently. 

Wolfstreet.com reported that not only are layoffs among mortgage lenders taking place, but they will also continue. “Layoffs and forced resignations are certainly imminent in the mortgage banking industry,” said Dan Green, principal at BlackFin Group.

Most state the cause is the increase in interest rates, lower demand for refinances and the real estate economy overall. This of course means fewer appraisal orders for real estate appraisers besides other mortgage related industries such as title, insurance and escrow.

Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.


Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin DISCLAIMER: https://mary--cummins.blogspot.com/p/disclaimer-privacy-policy-for-blogs-by.html

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