New American Funding has laid off 160 employees in its consumer direct division. This reduction is a direct response to current mortgage market conditions. Elevated interest rates have significantly suppressed refinance volume. The company stated the decision was made thoughtfully and responsibly to align operations with market realities. They expressed gratitude for the contributions of affected team members.
Santa Ana, California
https://www.housingwire.com/articles/new-american-funding-layoffs-160-consumer-direct/