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Mortgage lender Guaranteed Rate lays off about 180 employees, 30 in Chicago

The company funded $19 billion in new mortgage loans in 2017, down from $22 billion in 2016. Dolenga said the layoffs were not related to the dip in new mortgage loans, and the statement from Guaranteed Rate said it expects 2018 will be its largest year in total funded loan volume.

Guaranteed Rate has been steadily growing its workforce over the years, and plans to continue. It hired 120 loan officers in January and February, and plans to hire another 1,500 throughout the year, Dolenga said. In 2016, it employed about 3,200 people nationally, up from 620 a decade before.

The mortgage lender has received about $2.99 million in tax credits from the state for creating 443 new full-time jobs, according to the Illinois Department of Commerce and Economic Opportunity. It entered into a tax credit agreement in July 2010 as part of the Economic Development for a Growing Economy, or EDGE, program, which provides tax breaks for companies that promise to create jobs in Illinois.

The Senate is poised to roll back rules meant to root out discrimination by mortgage lenders

Lenders were supposed to start gathering extra information about borrowers' ages and credit scores, as well as interest rates and other loan-pricing features in January.

Congress had charged the Consumer Financial Protection Bureau, an independent watchdog agency formed after the financial crisis, with collecting, analyzing and publishing the data. But White House budget director Mick Mulvaney, named the CFPB's acting director last November, said the agency plans to reconsider the new requirements, and that banks would not be penalized for data collection errors in 2018. He also stripped the bureau's fair-lending office of its enforcement powers.

The Senate bill would repeal many of the new reporting requirements, exempting small lenders making 500 or fewer mortgages a year from the expanded data disclosure.

"Banks say they don't treat borrowers differently, but the data shows a different story," said Sen. Catherine Cortez Mastro (D-Nev.) on the Senate floor Thursday. "Redlining remains a major problem for communities of color."

What's the best way for me to become a Mortgage Broker in CT?

I have been a Loan Originator for a year now, but I'd like to become a mortgage broker. This way, I can shop around to different lenders to help close more loans.

You can try Countrywide, but honestly...your current position is the safer bet of the two. Mortgage Brokers and getting the short end of the stick lately and banks (like Wichovia) are no longer even dealing with them.