It seems that as interest rates rise, so do the layoffs.
Caliber Home Loans is the latest major player to hand out walking paper, with Housing Wire reporting that the company has laid off 300 employees. The lender has made at least four rounds of layoffs this year.
Positions affected included senior management, loan officers, IT support, processors, junior processors and underwriters.
Rithm Capital acquired Caliber last year, and posted a $3 million loss in the second quarter of 2022.