Costa Mesa, California-based WinnPointe Corporation, a residential mortgage lender doing business as Interactive Mortgage has announced another major reduction in force.
The reduction in force will impact 51 employees, including three underwriters, fifteen loan officers, eleven processors, three funders, and nineteen administrative support personnel. The separation date is scheduled for April 7, 2022.
Over the past twelve months, the company has laid off 128 employees, including six underwriters, twenty loan officers, twenty-five funders, and fifty-one administrative support personnel.
128 employees have been laid off over the last year, including six underwriters, 20 LOs, 26 processors, 51 admins, and 25 funders.
It is unclear how many employees, if any, are left.
According to a company statement, the decision was driven by the economic collapse triggered by the Covid-19 pandemic as well as the dramatic recent increase in interest rates, noting the company has suffered more than a million dollars in losses. The decision on who to layoff will not be based exclusively on seniority, but we may use seniority as a basis.
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. 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?
