Live Well Financial laying off 103 employees; blames closure on market, regulatory issues

‘Virginia-based Live Well Financial announced Friday that it was ceasing originations "due to unexpected circumstances." The forward and reverse mortgage lender and servicer also filed a notice with the Virginia Employment Commission informing the state of its closing and subsequent layoff of 103 employees in Richmond, Virginia.’

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Live Well Financial laying off 103 employees; blames closure on market, regulatory issues. Virginia headquarters shuttered. May 7, 2019 By Jessica Guerin.

Live Well Financial laying off 103 employees; blames closure on market, regulatory issues. Live Well Financial CEO Michael Hild accused of orchestrating 0 million fraud scheme that led to.

In May, Live Well Financial abruptly shuttered operations, said it would no longer be funding forward or reverse mortgage loans and laid off 103 employees. Not long after, one of Live Well’s creditors, Flagstar Bancorp, revealed in a filing with the Securities and Exchange Commission that the defunct lender still owes the bank $74 million. It.

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Live Well financial abruptly shuttered operations earlier this month, blaming unforeseen market conditions and regulatory issues that rendered the. servicer to close up shop, laying off 103 employees without much notice.

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The statement released on the company website accounts for the first official confirmation that Live Well is shutting down. Live Well has also laid off 103 workers, most of whom were based out of its corporate headquarters in Chesterfield, Va. according to a document obtained by local newspaper the Richmond Times-Dispatch.

The bloodletting at Goldman Sachs got worse. The bank GS, +0.54% on Monday it was laying off 55 more New York employees – the fourth wave this year – bringing the total count in the state to.

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