AM I NEXT? NO LOVE AT HOME POINT CAPITAL

Ann Arbor, Michigan-based Home Point Capital, a residential mortgage originator and servicer, has announced a reduction in force.

The reduction will impact approximately 1000 employees located in Ann Arbor, Michigan, and other company offices in Arizona, Florida, and Texas.

The decision was driven by the challenging mortgage loan marketplace where rising interest rates have reduced mortgage originations and financing.

According to a company spokesperson, "We are in the process of taking the painful step of reducing our workforce to ensure Homepoint is best positioned to navigate the current high-rate, low-margin environment. It is difficult to say goodbye to associates whose dedication to our partners and customers has greatly contributed to our company’s success in our first seven years of business."

"The company has taken multiple actions to reduce the impact on jobs over the last several months. But continually worsening market conditions make this additional step necessary. While these decisions are difficult, we remain committed to building a sustainable company that provides a best-in-class experience to the partners and customers we serve."

“We are in the process of taking the painful step of reducing our workforce to ensure Homepoint is best positioned to navigate the current high-rate, low-margin environment,” a spokesperson said.

“Over the last several months, we have executed multiple strategic actions to minimize the human impact as much as possible, but continually worsening market conditions make this additional step necessary.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?