LoanDepot announced a vision plan, including 4,800 workforce cuts by the end of this year, that aims to return the company to profitability.
Edison Financial, based in Windsor, Ontario, announced it will officially change its name to Rocket Mortgage Canada on Aug. 8, 2022, and will do business under the Rocket Mortgage brand throughout Canada. Edison, a subsidiary of Rocket Companies, began serving clients in March 2020 and has already reached $1 billion (Canadian dollars) in annual submission volume. The team began with four team members in early 2020 and currently employs more than 140. In addition to changing its name, the company also announced plans to become a direct lender in Canada later this year.
United Wholesale Mortgage (UWM) announced the launch of UWM Partner Academy, an online learning management system that is available to UWM partners at no cost. UWM Partner Academy comes equipped with a library of mortgage-related tutorial videos, each less than 10 minutes in length, with short knowledge checks included. Curated based on feedback from UWM clients along with insights from the company’s training team, the platform will provide loan originators, processors and support staff with a step-by-step training experience where they can quickly access educational content on a variety of topics.
Geneva Financial announced the opening of a new location in Mount Pleasant, South Carolina, led by branch manager Adam Kernen.