The information got here unexpectedly to many at Axia, who had not anticipated such adjustments given the corporate’s worker inventory possession plan (ESOP) construction.
“I simply felt that it being an ESOP, I wouldn’t be blindsided by layoffs,” one worker who requested anonymity advised Housingwire.
Whereas Axia has confronted monetary challenges, a number of sources described the corporate as having a robust tradition and a strong monetary place. Vested workers will obtain their payouts as soon as the deal is finalized.
Planet Dwelling Lending, recognized for its energy in correspondent lending, has been increasing its retail footprint in latest months. The mortgage lender and servicer employed trade veteran Doug Lengthy, senior vice chairman and divisional gross sales supervisor, to steer this effort.
Planet has additionally acquired belongings from different lenders, together with the vast majority of Platinum Dwelling Mortgage Corp.’s origination workers and branches final yr.
