The digital lender, which has become a popular choice for both lenders and borrowers, recently announced another round of layoffs impacting the U.S. mortgage sales and origination team. According to reports, the lender had to issue pink slips to about a quarter of the team.

The mortgage industry is far from stable, and layoffs are becoming an increasingly frequent event. This particular event underlines the large scale disruption that the sector is undergoing as digital startups enter, offering innovative solutions to traditional processes. This shake-up is likely to continue as more disruptive technologies enter the market, and lenders—including digital ones—continue to work to remain competitive.

• Recent layoffs affecting U.S. mortgage sales and origination team
• Lender issued pink slips to quarter of team
• Mortgage industry unstable, layoffs becoming frequent
• Sector undergoing large scale disruption due to digital startups entering
• Disruptive technologies likely to continue impacting market
• Lenders—including digital ones—working to remain competitive

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