Tustin, California-based New American Funding, a residential mortgage originator focused mainly on minority communities, has announced it will continue its cost-cutting initiative.
The reduction in force impacts 160 employees in its consumer direct division.
According to a company spokesperson, “The mortgage market continues to face headwinds, and we are navigating this environment thoughtfully and responsibly. As part of that effort, we have aligned our operations to reflect current market realities. These decisions are never easy, and we do not make them lightly. We are deeply grateful for the contributions of every team member affected.”
Change is constant, and it's coming. Tomorrow will always come, no matter how much you try to ignore it. Life offers no guarantees, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you wondering, "Am I next"?
