Michigan-based Flagstar Bancorp, Inc., parent company of Flagstar Bank, has reduced its mortgage staff by 20% since the calendar turned to 2022, laying off 420 employees amid a significant drop in origination volumes and margins. Overall, the bank’s net income in the first quarter of 2022 dropped 60.4% from the prior quarter, to $53 million. […more]
Posted in: San Francisco
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