Bank of America Corp. is continuing to reduce its mortgage headcount, with the latest round of layoffs in the Lone Star State bringing the year-to-date total to at least a thousand.
Last month, the Charlotte, N.C.-based firm confirmed an undisclosed number of servicing jobs cuts in its hometown.
In addition, published reports in February indicated that BofA was eliminating 450 home lending positions on the West Coast.
On top of those layoffs, 280 mortgage positions were eliminated last month in St. Louis, while 103 were let go in January in Richmond, Va..
On March 3, BofA filed a Worker Adjustment and Retraining Notification Act notice with the Texas Workforce Commission indicating that it is laying off 156 mortgage employees in North Texas.
Among the impacted locations are an operation in Fort Worth and offices in the Dallas suburbs of Addison, Richardson and Plano.
The layoff date is April 13.
“The number of delinquent mortgage loans we service has decreased to one-fourth the peak levels,” a company statement said. “As we continue to resolve the needs of customers with delinquent loans, we are reducing the size of the operations that support these specialized programs. Additionally, in line with the industry, we are realigning our cost structure in response to lower customer demand for mortgage refinancing.”
The statement indicated that BofA is working with impacted employees to identify opportunities both inside and outside the bank.
