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Ocwen Discloses Texas Layoffs

Job cuts part of national round

Dec. 9, 2013

By Mortgage Daily staff

Among hundreds of mortgage layoffs recently disclosed by Ocwen Financial Corp. are more than 200 at three locations in Texas.

The Atlanta-based residential loan servicer reported earlier this month that it was eliminating 844 jobs across the country.

Impacted employees were part of GMAC Mortgage, which Ocwen acquired from bankrupt Residential Capital LLC.

Last week, 244 people in Fort Washington, Pa., and 238 in Waterloo, Iowa, were advised of their impending terminations.

A Workers Adjustment and Retraining Notification field with the Texas Workforce Commission on Dec. 2 indicated that another 239 employees are being laid off in North Texas.

A location in Coppell is where 137 of the job cuts are happening.

In nearby Lewisville, 10 positions are being eliminated.

Addison is the location of the other 92 layoffs.

All three cities are suburbs of Dallas.

The layoffs will take place on Jan. 31, 2014.

Pa. Jobs Among Hundreds Eliminated by Ocwen
Ocwen Financial Corp., which won a $3 billion auction in bankruptcy court for Residential Capital LLC's loan-servicing unit, handed out pink slips Tuesday to nearly half its workforce in Fort Washington, Pa., and laid off employees in 10 other locations.

Iowa Employees Impacted by Ocwen Layoffs
WATERLOO, Iowa -- Numerous acquisitions in recent years led to redundancies that prompted Ocwen Financial Corp. to issue layoff notices Tuesday to more than 800 workers nationwide -- including 238 in Waterloo.

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