Northpointe Bank files layoff notice for Grand Rapids workforce

Overview

Updated 1 hour ago

Northpointe Bank told Michigan labor officials on Nov. 4 that it plans to lay off 338 workers in Grand Rapids. The layoff date is Dec. 31, and the filing is a Worker Adjustment and Retraining Notification, or WARN notice.

The notice follows Northpointe's sale of its distributed retail and consumer direct mortgage channels to CMG Financial. The bank said the deal affects about 337 positions, and CMG is expected to offer jobs to many of those staff. The WARN filing is an intent to lay off, not proof that all 338 jobs will end.

Why it matters

The filing shows how a mortgage-channel sale becomes a state WARN notice, and whether 338 Grand Rapids jobs transfer to CMG or end Dec. 31.

Last Monday's email for Grand Rapids, MI

Sent Nov 2. It carried:

Grand Rapids planners approve fast-food, bank parking and golf course projects Grand Rapids planners approved new Culver's and Chipotle restaurants, a bank parking expansion and a private golf...
The Intersection lists 13 shows for January 2027 The Intersection has posted 13 shows for January 2027, spread across its two rooms: the main room and the smaller...
DeVos Performance Hall publishes January 2027 event calendar DeVos Performance Hall has posted four shows for January 2027. The 2,404-seat venue in Grand Rapids is listing the...
Van Andel Arena lists 16 shows for January 2027 Van Andel Arena's online calendar lists 16 shows for January 2027. The venue's largest room holds about 12,000 people.

Get next Monday's: one short email a week. Free. Unsubscribe in one click.

Questions about this story

Free account needed to ask — your question is kept and asked for you right after sign-up. Answers are public.

No questions yet — be the first to ask.

Key Indicators

338

Affected employees in WARN notice

Northpointe Bank's Nov. 4 filing covers 338 workers in Grand Rapids.

Federal WARN notice period

The Worker Adjustment and Retraining Notification Act requires 60 days' notice for mass layoffs.

337

Positions in CMG sale

Northpointe said the sale of retail and consumer direct channels affects about 337 positions.

Voices

Curated perspectives — historical figures and your fellow readers.

People Involved

Chuck Williams

Chairman and CEO, Northpointe Bank

Leading Northpointe through sale of mortgage channels and WARN filing

Organizations Involved

Northpointe Bank

Community bank and mortgage lender

Filed WARN notice; selling mortgage channels to CMG Financial

Grand Rapids-based bank that filed the Nov. 4 WARN notice for 338 workers.

CMG Financial

Mortgage lender

Expected to offer jobs to many Northpointe mortgage staff

Mortgage lender buying Northpointe's distributed retail and consumer direct channels.

Michigan Department of Labor and Economic Opportunity

State workforce agency

Posted Northpointe WARN notice

State agency that posts WARN notices from Michigan employers.

Timeline

March 2021 November 2026

2 events Latest: Yesterday

November 2026
Northpointe files WARN notice for 338 Grand Rapids workers
Latest Layoff notice

The notice sets a Dec. 31 layoff date and covers 338 employees at Grand Rapids.
Yesterday
March 2021
Northpointe opens Grand Rapids operations center
Expansion

Northpointe opens a national operations center in Grand Rapids and says it added 261 jobs in the prior year.
March 31st, 2021

Scenarios

CMG offers jobs to most affected Northpointe staff

Likely Resolves by Jan 31, 2027

Discussed by: Northpointe spokesperson cited by National Mortgage News

Northpointe said CMG is expected to extend employment offers to many of the 337 staff in the mortgage channels sale. If CMG hires most of them, the WARN notice will overstate the final job loss in Grand Rapids. The outcome depends on CMG's hiring decisions before the Dec. 31 layoff date.

Layoffs proceed for workers not hired by CMG

Likely Resolves by Jan 15, 2027

Discussed by: WARN notice and National Mortgage News

The WARN notice sets a Dec. 31 layoff date. Workers who do not receive CMG offers or another Northpointe role would be separated on that date. The final count will show how many of the 338 jobs actually end.

Northpointe withdraws or shrinks WARN notice

Unlikely Resolves by End of 2026

Discussed by: WARN filing terms

A WARN notice can be amended or withdrawn if plans change. If CMG absorbs all affected staff or the sale terms shift, Northpointe could file a revised notice with fewer or zero layoffs. No such revision has been reported.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

March 2021

Northpointe Operations Center opening (2021)

Northpointe opened a national operations center in Grand Rapids and said it had added 261 jobs in the prior 12 months. The bank described the facility as a hub for residential lending and customer service.

Then

The center supported Northpointe's mortgage growth.

Now

Five years later, the bank is selling mortgage channels and filing a WARN notice for 338 Grand Rapids workers.

Why this matters now

The contrast shows how quickly a mortgage lender's staffing plans can reverse when it exits business lines.

2022-2023

Mortgage layoff wave (2022-2023)

Rising mortgage rates cut origination volume, and lenders, servicers and technology firms slashed payrolls. National Mortgage News calls the latest reductions the largest since that wave.

Then

Many mortgage jobs disappeared.

Now

Lenders have kept cutting staff in 2026 as high rates persist.

Why this matters now

Northpointe's WARN notice is part of a smaller 2026 round of mortgage layoffs tied to channel sales and cost cuts.