Toms River, New Jersey-based OceanFirst Bank, a full-service regional bank, has announced a reduction in force related to its planned exit from its residential loan origination business and partner with Embrace Home Loans for mortgage services.
The personnel adjustment will impact 114 employees, effective December 18, 2025.
According to a company statement, “Residential lending has become dominated in recent years by large-scale wholesale mortgage companies and financial technology firms, prompting many banks to re-evaluate their mortgage business models. By transitioning our residential loan origination business model to this strategic partnership, OceanFirst will continue our focus on growing the commercial bank with significant investments to drive growth and profitability.”
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, 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, at any time, 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 now wondering, Am I Next?