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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 informed Housingwire.
Whereas Axia has confronted monetary challenges, a number of sources described the corporate as having a robust tradition and a stable monetary place. Vested staff will obtain their payouts as soon as the deal is finalized.
Planet House Lending, recognized for its power in correspondent lending, has been increasing its retail footprint in latest months. The mortgage lender and servicer employed trade veteran Doug Lengthy, senior vp and divisional gross sales supervisor, to steer this effort.
Planet has additionally acquired belongings from different lenders, together with nearly all of Platinum House Mortgage Corp.’s origination employees and branches final yr.
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