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Home Lending Layoffs Lay Low

Recent mortgage-related layoffs

Jan. 24, 2016

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

While there have recently been some workforce reductions in the real estate finance industry, the degree of activity has been modest.

A notice sent to the Ohio Department of Job and Family Services indicated that Citigroup eliminated 403 positions in Columbus.

The notice, which was filed on July 2, 2015, indicated that the layoffs started on April 4 and continued through the end of last year.

In Waterloo, Iowa, Ocwen Loan Servicing LLC advised the state's Workforce Commission that it laid off 287 employees on Nov. 27, 2015.

Atlanta-based Ocwen disclosed the workforce reduction in a filing as required by the Worker Adjustment and Retraining Notification Act.

A WARN filing with the Virginia Board of Workforce Development said that Home Retention Services Inc. plans to eliminate 255 jobs in Chesapeake on April 1.

Bank of America advised the New York Department of Labor that it eliminated 234 positions in Utica. The layoffs took place from March 31 through July 31.

A WARN filing made by Wells Fargo said it let go 122 people in San Bernardino, California, on Jan. 17.

Wells Fargo advised the California Employment Development Department that 65 Santa Ana employees were laid off on Dec. 20, 2015.

In Charlotte, North Carolina, 350 mortgage servicing jobs at Wells Fargo will be relocated to Fort Mill, South Carolina, The Charlotte Observer reported.

The Maryland Department of Labor, Licensing and Regulation was advised that Branch Banking and Trust Corp. eliminated 126 jobs in Hagerstown on Oct. 9.

CoreLogic Inc. filed a WARN notice indicating that 21 employees in Redwood City, California, were let go on Jan. 4, 2016.

On Feb. 13, FNB Corp. will eliminate 230 positions in Dauphin County, Pennsylvania, a WARN filing with the Pennsylvania Department of Labor & Industry said.

In Oneida, New York, 47 people were laid off during December 2015 at Oneida Savings Bank, a WARN filing stated.

An article published by Alabama Media Group indicated that 31 mortgage jobs were eliminated in Birmingham, Alabama, by Walter Investment Management Corp.-subsidiary Green Tree Services.

Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.

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