Homepoint, a national mortgage originator and servicer, notified the state of Arizona in a WARN notice it is laying off 113 people at its Chandler facility.
Mortgage companies have been hit hard over the past several months, as mortgage interest rates have more than doubled since January. Hundreds of people haveA silver lining in this higher-rate environment is that potential homebuyers are taking their time and placing a premium on saving money when getting a home loan, said, spokesman for Homepoint, which is owned and operated by Ann Arbor, Michigan-based Home Point Capital Inc.
"To support that, we've taken the lead on analyzing public homebuyer data to find out where the greatest savings are," he said."And data shows that homebuyers save an average of $9,400 when getting a loan through a local independent mortgage broker, as opposed to going directly to big national chains."
As a result of the changing market, Homepoint is sharing this message with real estate professionals and loan originators, he said. "And we're introducing more products and programs that create greater opportunities for consumers to affordably purchase homes in this environment," Pettiford said.Phoenix-based Suburban Mortgage Inc., for example,"After 34 years, we decided to conduct an orderly wind-down of our mortgage business,"