Founded in 2008 and headquartered in Melville, New York, Reliance is a fully integrated direct-to-consumer mortgage origination platform that has 315 employees, including more than 150 loan officers and sales managers, across six call centers. Reliance originates approximately $1 billion in mortgages each year across government, agency, non-agency/non-QM and second-lien loan products. The company's servicing portfolio of more than 16,000 customers and $3 billion in unpaid principal balance will move onto Carrington's platform once the transaction closes.
Today's college graduates are facing one of the most hostile job markets in recent memory, especially when it comes to entry-level roles. The Bureau of Labor Statistics (BLS) reported a 9.3% unemployment rate for bachelor's degree holders aged 20 to 24 in August 2025, almost double the average unemployment rate for all workers. In the U.S., entry-level hiring is down 23% compared to March 2020, which is more than the 18% decline in overall hiring, according to research from LinkedIn.
