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Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.


Wells Adding Hundreds of Mortgage Temps

Hirings tied to increased mortgage activity

January 21, 2009

By MortgageDaily.com staff


Wells Fargo Home Mortgage is hiring hundreds of temporary employees to help it meet increased mortgage demand.

As mortgage rates have tumbled recently, the Des Moines, Iowa-based lender has seen the volume of U.S. loan application surge, a spokesman told MortgageDaily.com in a statement.

"To better meet this demand and the needs of our customers, we are currently increasing our staffing levels with a number of temporary workers to process these applications in various locations around the country," the statement said.

While the spokesman could not provide a specific number of temporary jobs it is attempting to fill, he did note it is in the "hundreds." He indicated an exact number or specific locations were unavailable because "these decisions are driven by the external factors of consumer demand and the rate environment." But some of the temporary positions are in Billings, Mont.

A hiring freeze remains in effect on permanent positions, but he said former employees will be given preference for the temporary jobs.

Wachovia Corp., which was acquired by Wells Fargo & Co. on Dec. 31, disclosed in July plans to eliminate 10,750 positions company-wide. Wells has not disclosed any updated layoff plans for the unit.


Wells Fargo Employment Activity

Date Unit Location Number of Jobs
Nov. 25, 2008 Wells Fargo Home Mortgage national undisclosed
Feb. 26, 2008 Wells Fargo Home & Consumer Finance Group Carlsbad, Calif. 26 layoffs
Jan. 18, 2008 Wells Fargo Home Mortgage Des Moines, Iowa 130 layoffs
July 26, 2007 Wells Fargo Home Mortgage Baton Rouge, La., and Des Moines, Iowa 170 layoffs
July 3, 2007 Wells Fargo Home Mortgage Bakersfield and Sacramento, Calif.; Portland, Ore.; Phoenix, Ariz.; Pittsburgh, Penn.; and St. Petersburg, Fla. layoffs not specified
March 19, 2007 Wells Fargo Home Mortgage Tempe, Ariz. 121 layoffs
February 22, 2007 Wells Fargo Home Mortgage Fort Mills, S.C., and Concord, Calif.

320 layoffs
Aug. 22, 2006 Wells Fargo Home Mortgage Davenport, Iowa layoffs not specified
May 8, 2006 Wells Fargo & Co. Des Moines, Iowa 2,000 job additions
March 2, 2006 Wells Fargo Home Mortgage Concord, Calif. 60 job additions
Oct. 26, 2004 Wells Fargo Home Mortgage national 250 job additions
Aug. 4, 2004 Wells Fargo Home Mortgage national 10,000 job additions
May 11, 2004 Wells Fargo's Home & Consumer Finance Group West Des Moines, Iowa 3,300 job additions
Feb. 19, 2004 Wells Fargo Home Mortgage Los Angeles 100 job additions
Nov. 7, 2003 Wells Fargo Home Mortgage not specified layoffs not specified
Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.



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