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

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The cuts announced this year also represents the bank’s largest in New York since 2008. During the heat of the financial crisis, Goldman Sachs let go of about 900 employees, according to filings.

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

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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.

A top reverse mortgage lender that unexpectedly halted operations friday will also lay off more than 100 employees, including its founder and CEO. Live Well Financial, as recently as February.

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