Citing a lack of loan production, a 34-year-old Valley financial services company will exit the mortgage business.
"After 34 years we decided to conduct an orderly wind-down of our mortgage business," he stated."Capital and liquidity are not the issue, but the lack of loan production. We built an engine to comfortably produce $35 million in monthly loan production. Our bread and butter has always been [mortgage] purchase business driven through our Realtor relationships. However, the volume of purchase transactions is no longer fueling this engine.
The firm employs between 51 and 200 people, according to its LinkedIn page. Martin said that Suburban Mortgage had an 80% staff reduction as a result of this decision.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Fry’s sets opening date for north Phoenix store - Phoenix Business JournalThe latest Fry’s store will include amenities such as a pharmacy, 18-pump fuel station, Chompie’s sandwich shop, a sushi station, Starbucks, Murray’s Cheese Shop and an extensive wine department.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
Long Covid is keeping millions out of work, Brookings report finds - Phoenix Business JournalLong Covid is proving to have a substantial effect on the workforce, according to new research. Experts say employers can't ignore the issue. Stop it Stop with the Portland biz journal bs.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
Mesa names Mary Kopaskie-Brown as its new planning director - Phoenix Business JournalThe new hire from Riverside, California succeeds Nana Appiah, who was announced last December as Mesa's new director development services.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
Goodyear economic development director resigns, interim named - Phoenix Business JournalThe public official resigned after serving as the city's economic development director for four years.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »
The Great Sell-off has started in real estate - Phoenix Business JournalIt should not come as a surprise that the stubbornly high work-from-home percentage of workers is forcing large pension funds, private equity funds and institutional real estate investors to think twice about their portfolio of buildings.
Herkunft: phxbizjournal - 🏆 254. / 63 Weiterlesen »