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Guaranteed Rate to Lay Off 348 in Stearns Wholesale Closure

Friday, Jan 28 2022
Lending
Written by  The Mortgage Leader

 After Guaranteed Rate opted to shutter Stearns Lending’s third-party wholesale channel, Stearns has divulged plans to lay off 348 employees. So reports Inman.

stearns lendingA Worker Adjustment and Retraining Notification Act notice filed on Jan. 12 with the Texas Workforce Commission noted the closure of “the entire Stearns Lending wholesale division,” with the layoffs occurring on March 13.

In a separate WARN notice, Guaranteed Rate said it would lay off another 93 employees as it closes an operational arm that helps SoFi, which worked with Stearns.

Read the full article from Inman.

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