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

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com 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 MortgageDaily.com.

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

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

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

Press Releases
Reports and announcements from MortgageDaily.com.

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.

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.

BoA Layoffs in AZ

200 Phoenix jobs cut

July 21, 2006


photo of Coco Salazar

Hundreds of mortgage jobs in Arizona are in the process of being eliminated at Bank of America.

About 200 mortgage loan fulfillment employees at a Phoenix operations center recently received notices their duties would be consolidated in other existing facilities across the country by the end of August, BoA spokeswoman Julie Davis told MortgageDaily.com.

The bank has been notifying the Phoenix home loan workers since mid-May to give them sufficient time to find other jobs, Davis said, noting that about half have been accommodated to serve other growing business areas of the company and that the bank is optimistic that will also be the case for many of the remainder who are fulfilling the mortgage work through the transition period.

While none of the affected employees are being transferred into mortgage jobs, Davis said the elimination of the mortgage operations in the Phoenix office is not related to slowdown in the mortgage industry.

"It's simply a matter of making the best use of our facilities," she added. "We do have other facilities in country that are picking up the [mortgage] work" from the Phoenix location.

In April, BoA said it would eliminate close to 400 jobs in Ohio and Delaware this summer due to the transitioning of two centers of MBNA Home Finance.

The Charlotte, N.C.-based banking behemoth completed its acquisition of MBNA Corp., mostly made up of credit card employees, early this year and anticipated 6,000 layoffs would result.

Davis said the mortgage job cuts in Phoenix were not related to the merger.

Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.

e-mail: [email protected]

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