twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
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.

CA and FL Seeing Many of Mortgage Layoffs

Recent mortgage-related layoff activity

Nov. 12, 2011


portrait of Sam Garcia

Banks, service providers and mortgage servicers are among the companies that have been cutting back on staffing -- many because of plant closings. Some of the recent layoffs are the result of business closings. A good portion of the job cuts are concentrated in California and Florida.

CoreLogic reported a third-quarter net loss of $107 million. In an effort to stem ongoing losses, the Santa Ana, Calif.-based company said that it has identified five business units it will exit. It closed down LeadClick in September, while it has designated as "discontinued operations" Appraisal Management Services, American Driving Records Inc., CompuNet Credit Services and Consumer Credit Monitoring.

Around 6 percent of its U.S. employees were laid off in the third quarter, according to the earnings report, and another 5 percent are being terminated in the fourth quarter. As of March 11, CoreLogic reported a staff of more than 10,000 employees, suggesting around 1,100 layoffs at the company during the second-half 2011.

A Workers Adjustment and Retraining Notification was filed by American Home Mortgage Servicing Inc. with the state of California. The notice indicated that 149 employees in Irvine are being laid off on Nov. 30.

The state of New York was notified by Bank of America Corp. that it laid off 34 employees at its home loans unit in Saratoga Springs on July 15. The company cited "economic" as the reason for the terminations.

And in the Big Apple, 33 BofA positions are being eliminated on Nov. 30.

In Maryland, BofA said in a WARN filing that 20 employees were laid off in Frederick on Nov. 7.

Wells Fargo Home Mortgage Servicing laid off 113 employees in Bellevue, Wash., according to a filing with the state's Employment Security Department. The layoffs, due to a "closure," took place on Aug. 21.

WARN notices filed by Wells Fargo & Co. with the Florida Department of Economic Opportunity in September indicated that the San Francisco-based company plans to relieve 304 employees in Lake Mary on Nov. 20. In addition, 62 employees in Jacksonville will be laid off on Nov. 13 and another 257 Doral employees will be let go on Nov. 18.

A WARN notice filed with the state of Iowa said 79 Des Moines employees were laid off by Wells Fargo on Sept. 11. Previously published reports indicated these were refinance employees.

Pennsylvania's Department of Labor & Industry was advised by Wells Fargo that 119 employees in Chester are being terminated on Nov. 20 due to a plant closing.

Around 50 people were impacted by the recent closing of AppraiserLoft based on data reported by Manta.

Comerica Inc. reported to the state of Texas that 300 Houston employees were laid off Oct. 1. A Comerica spokesman explained that the layoffs are tied to its July 28 acquisition of Sterling Bancshares, and "a few of the reductions involve Houston-based back-office mortgage personnel."

Walker Jackson Mortgage Corp.'s decision to wind down its wholesale operations is only expected to eventually impact less than a dozen employees, though the number could vary depending on market conditions, a spokeswoman said in a statement Wednesday. The layoffs could occur in any of the multiple states where the Chantilly, Va.-based company does business.

"At present, no wholesale-specific positions will be impacted as we have substantial workload associated with the high-quality processing and closing of a pipeline of wholesale loans between now and year end," the statement said. "At that time, we'll evaluate our wholesale wind-down, in combination with our retail ramp-up, and determine which wholesale-specific skills may be redeployed in support of retail originations within the business."

California's Employment Development Department was notified by Fireside Bank that 83 employees were laid off in Pleasanton on Oct. 7.

Federal Trust Bank filed a WARN notice indicated that 70 employees in Statewide, Fla., will be laid of between this month and Dec. 9.

In Brooklyn, N.Y., Brooklyn Federal Savings Bank will lay off 29 employees on Jan. 31, 2012, a WARN notice said.

BNY Mellon advised Pennsylvania that15 Philadelphia employees were laid off on Nov. 12 and five more were laid off on Sept. 30.

Between July 1 and May 31, 2012, the Bank of New York Mellon is laying off 124 people in New York, the company told the New York Department of Labor.

Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Before that, he worked in mortgage lending for two decades.

[email protected]

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

Mortgage Leads | Lead Directory
Loan leads for originators, brokers and loan officers. News about lead companies that provide exclusive refinance leads. Stories about mortgage lead generation techniques.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders