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Service Providers Make Up Many of Mortgage Layoffs

Recent mortgage-related layoffs

Sept. 14, 2014

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

As mortgage lenders respond to a changing marketplace with staff reductions, several service providers are finding themselves in the same position.

ServiceLink is cutting 211 jobs in Solon, Ohio, a Worker Adjustment and Retraining Notification filed with the Ohio Department of Job and Family Services said.

ServiceLink, which maintains its headquarters in Pittsburgh, noted in the WARN filing that the date of the layoffs is Sept. 30.

A WARN notice with the Indiana Department of Workforce Development said Springleaf Finance Inc. is laying off 170 people in Evansville on Sept. 30.

Springleaf notified the state of California that it laid off 10 people on Oct. 5. The impacted employees were in Rancho Cucamonga.

Bank of America Corp. advised the Pennsylvania Department of Labor & Industry that 46 people were laid off on July 7 in Pittsburgh.

The California Employment Development Department was notified by BofA that it will be firing 36 Simi Valley employees on Oct. 26. In addition, 22 Los Angeles employees were laid off on July 20 and seven Concord jobs were eliminated on Aug. 3.

Thirteen employees in Jacksonville, Fla., are being laid off by BofA this month, according to a story from the Daily Record. A drop in the number of delinquent loans was blamed for the job cuts.

The North Carolina Department of Commerce was notified by CoreLogic Inc. in July that 62 Charlotte employees will be let go on Sept. 30. An office closure was blamed. The total was previously reported at just 46 employees.

Wells Fargo & Co. indicated in a WARN filing that 52 San Leandro, Calif., jobs were cut on Aug. 17.

Three Wells Fargo employees were laid off last month in Amherst, N.Y., Business First reported. Slowing refinance business was blamed for the job cuts.

On June 24, BBVA Compass laid off 90 employees in Birmingham, Ala., a WARN notice indicated.

The Michigan Department of Technology, Management & Budget was advised on June 17 that 80 employees in Tecumseh are being laid off by Old National Bancorp.

In Pomona, Calif., 40 HSBC employees will be laid off on Oct. 25, according to a WARN filing.

Seven Rockville, Md., positions will be eliminated on Sept. 19 by RoundPoint Mortgage Co., the state's Division of Workforce Development was notified.


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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