SoFi Is Said to Cut 7% of Staff and Revamp Ailing Mortgage Unit

Bloomberg, Nov. 30, 2018–Julie Verhage
The 100 job cuts are happening in the company’s mortgage department. SoFi has said it plans to dramatically expand its mortgage business in 2019. As part of that effort, the company is now undertaking a wholesale restructuring of how that division operates–including a shift away from underwriting loans directly.