A U.S. appeals court has temporarily blocked mass layoffs affecting certain mortgage divisions, allowing employees to retain their positions for the time being. According to experts, these layoffs could increase regulatory burdens for states. Mark McArdle, with extensive experience in mortgage markets, has been appointed as Senior Vice President at Newrez, where he will guide policy engagement efforts. Newrez was the fourth-largest mortgage lender in the U.S. in Q1 2025, demonstrating significant growth over the past year.
"On Monday, a U.S. appeals court restored a temporary block on the mass layoffs, allowing employees to keep their jobs for the time being."
"His appointment reflects our commitment to caring fiercely for our homeowners and responsible participation in the markets, Baron Silverstein, president of Newrez, said in a statement."
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