BankUnited stops making retail mortgage loans, lays off workers

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Retail investors interested in virtual. cryptocurrencies and its existing robo-investing tools to make it a one-shop-stop for wealth-management services. SoFi is also expanding its student-loan.

Combined, the three lenders have laid off more than 200 employees in North Texas and 11,000 across the country. In February, Wells Fargo cut more than 700 mortgage-related jobs, while JPMorgan Chase said it plans to cut 8,000 jobs by the end of the year as the mortgage business shrinks and it aims to control costs.

 · Show some grace. Stop cutting pay. Get us some good leads so we can turn them into loans and make money too. Step up and take responsibility rather than trickaline it down to the people that actually do the real work. And realize the JDPower surveys do not tell the full story. Trust your employees instead of blaming them for everything.

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Bank of America (BAC) is laying off hundreds of workers from a unit that services troubled mortgages. The bank will lay off 411 dallas-area workers from its Legacy Asset Servicing unit, the company said Monday. The layoffs will take place Sept. 30 and the workers affected will be offered severance pay and benefits, it said.

The retail apocalypse continues as businesses continue laying off workers due to lower consumer spending, consumers maxed-out on credit cards, and job losses mounting which further dampens the.

 · Well, a lot of money is being spent so certainly somebody’s getting hugely rich. Not sure who. Who got rich the first time around were bankers/investors who bought into the scam and sold out before it completely obliterated and/or guys like that hedge fund manager who spent a billion dollars buying insurance against the bad mortgages, expecting them to fall, and made something like a 600%.

BankUnited, Inc. BKU and its subsidiary BankUnited NA’s ratings have been affirmed by Moody’s Investors Service, the rating arm of Moody’s Corporation MCO. The outlook for the company.