Flagstar Bancorp announces mass layoff

Wells Fargo to sell 52 bank branches to flagstar bancorp. approximately 490 Wells employees at those locations will receive job offers from Flagstar. The sale is part of a previously-announced plan to whittle Wells’ branch footprint, the company said in a release. It comprises approximately $2.3 billion in deposits,

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The Mortgage Bankers Association announced that it added 30 new members in the months of February and March, as it continues to push its membership beyond 2,200 organizations.. Flagstar Bancorp announces mass layoff. Next Next post: Delays push foreclosures to 40-month low in April.

Flagstar Bancorp, Inc. operates as the holding company for Flagstar Bank, a federally chartered stock savings bank. It is the largest publicly traded savings bank in Michigan with assets of over $16 billion in 2016.

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Layoff. Your employer likely has the right to terminate your employment at anytime though a layoff. That’s because employment is generally presumed to be "at will" in the U.S.It’s also because employers have the right to protect themselves financially through layoffs.

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 · In the first quarter we acquired eight branches of Desert Community Bank and the mortgage loan warehouse business from Santander Bank, followed by the acquisition of 52 branches from Wells Fargo.

Mass Layoff: A covered employer must give notice if there is to be a mass layoff which does not result from a plant closing, but which will result in an employment loss at the employment site during any 30-day period for 500 or more employees, or for 50-499 employees if they make up at least 33% of the employer’s active workforce. Again,

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About Flagstar Bancorp Inc. Flagstar Bancorp, Inc. is the holding company for Flagstar Bank, FSB. The Bank attracts deposits from the general public and originates or acquires residential mortgage loans. Flagstar also originates consumer, commercial real estate, and non-real estate commercial loans and it operates predominantly in Michigan.

CoreLogic launches loan fraud analysis software CoreLogic’s FinalCheck suite of quality control software is now accessible from the Ellie Mae loan origination system. The integration is direct into the Encompass360 LOS, rather than a connection through Ellie’s collaborative network services platform, the Ellie Mae Network.

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