AM I NEXT? NO LOVE AT NEW AMERICAN FUNDING

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"?

AM I NEXT? NO LOVE AT NEW AMERICAN FUNDING

Tustin, California-based New American Funding, a residential mortgage originator mainly focused on minority communities, has announced a continuation of its cost-cutting initiative.

The reduction in force impacts 240 employees.

According to a company spokesperson, “As a result of current mortgage market conditions, New American Funding took action this week to reduce its workforce. In total, the company separated approximately 240 positions from multiple locations, with the majority of the reduction in force impacting mortgage operations.”

“The past two years have seen unprecedented highs in the mortgage industry, but since spring, the environment has retreated from those peaks. The mortgage market slowdown is, unfortunately, affecting our entire industry. We are all working hard to determine the best way to operate in today’s market. It is our duty as stewards of this company to ensure that we are properly positioned and able to responsibly navigate the current marketplace.”

“These situations are never easy, and these are decisions that we do not take lightly,” Arvielo said. “We recognize the enormous contributions that each of these valued team members has made to our company, sincerely thank them for their efforts, and wish them all success going forward.”

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?