Jeff DerGurahian, chief capital markets officer at LoanDepot, said that job cuts in the space are unavoidable, though some workers can shift from refinancings into home purchase loans.
The number of people working in the mortgage industry is the highest since early 2006, following a more than 50% leap to about 130,000 since late 2019. But the Mortgage Bankers Association projects that volume will fall to $2.6 trillion in 2022 from $4 trillion last year.
