Mortgage Daily Logo
mortgage news from industry experts

Texas Layoffs at WaMu

Texas Layoffs at WaMu

60 Houston jobs cut

June 12, 2007

By COCO SALAZAR

photo of Coco Salazar
Further consolidation at Washington Mutual Inc. resulted in Texas layoffs.

WaMu consolidated the functions of a records center in Houston and eliminated roughly 60 positions, spokesman Tim McGarry told MortgageDaily.com in an e-mail statement.

Work from the center, which maintained records for second mortgages, was transferred to units doing the same kind of work in Florence, S.C., and Jacksonville, Fla., according to the statement.

Performing this function in two locations instead of three will improve efficiency, McGarry said.

It was unclear at press time whether the Houston center completely closed down or held other operations, but McGarry noted, “Clearly we vacated space and there will be cost savings.”

The affected Houston employees learned about WaMu’s decision on Jan. 10, McGarry said, adding that WaMu has announced a number of similar real estate consolidations over the past 18 months.

This quarter held the scheduled completion of at least two other rounds of layoffs done in an effort to cut costs — about 300 job cuts in Wisconsin related to the sale of the $140 billion servicing rights to Wells Fargo and about 250 subprime employee reductions throughout California, New Jersey, Oregon and Texas.


Washington Mutual profile and news

next story

back to current headlines

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION