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The information got here unexpectedly to many at Axia, who had not anticipated such modifications 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 strong monetary place. Vested staff will obtain their payouts as soon as the deal is finalized.
Planet House Lending, identified for its energy in correspondent lending, has been increasing its retail footprint in current months. The mortgage lender and servicer employed business veteran Doug Lengthy, senior vp and divisional gross sales supervisor, to guide this effort.
Planet has additionally acquired property from different lenders, together with the vast majority of Platinum House Mortgage Corp.’s origination workers and branches final 12 months.
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