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Mortgage Giant Cuts Thousands Of Jobs—Warns Of ‘Accelerated’ Downturn As Housing Market Abruptly Collapses

Mortgage originator loanDepot on Tuesday unveiled a plan to cut thousands of jobs and reduce costs “significantly” as higher interest rates sink mortgage demand—becoming the latest company to warn the housing market is due for a steeper turnaround after the pandemic-era home-buying frenzy. In a regulatory filing released Tuesday, California-based loanDepot said it has cut…

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