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The Mortgage Layoff Journal

Recent mortgage-related job cuts

April 25, 2014

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

Layoffs in real estate finance, which were happening at a torrid pace last year, have since slowed considerably. Much of the activity continues to be concentrated among lending behemoths.

Wells Fargo Home Mortgage disclosed earlier this month that it was eliminating 323 positions. A statement from the company cited lower refinance demand and improving loan performance.

While the job cuts were national, 11 of the layoffs were identified in the San Francisco Bay area , and another 27 were identified in the Dallas area.

Since then, published reports have indicated that 46 of Wells Fargo's layoffs were in Jacksonville, Fla.; 37 were in Fort Mill, N.C.; and 17 were in Printon, N.Y.

In Richardson, Texas, Bank of America Corp. advised the Texas Workforce Commission in a Worker Adjustment and Retraining Notification on March 3 that it would lay off let 40 employees on March 23.

A subsequent WARN filing indicated that the total has been raised to 71.

The Richardson job cuts were part of a bigger round of 187 Texas layoffs at BofA.

Around 16 employees in Tampa and Orlando, Fla., are impacted by the Department of Housing and Urban Development's decision to close offices in the two towns, the Orlando Sentinel reported. Affected employees have been offered buyouts, early retirement or relocation to other HUD offices.


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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