Mortgage Giant Cuts Thousands Of Jobs—Warns Of ‘Accelerated’ Downturn As Housing Market Abruptly Collapses

Source: Forbes — 

Mortgage originator loanDepot on Tuesday unveiled a plan to cut thousands of jobs and reduce costs “significantly” as higher interest rates sink mortgage demand—becoming the latest company to warn that the housing market is due for a steeper turnaround after the pandemic-era home-buying frenzy.