Article Image
News Link • Housing

Mortgage Lenders lay off workers as refinance activity declines rapidly

A rebound in mortgage rates from last year's near-record low has reduced consumer demand for home loans and refinancings, leading Wells Fargo & Co. to join other industry stalwarts in laying off loan processors and related workers. The San Francisco bank, the nation's No. 1 mortgage lender, has handed pink slips to about 1,900 workers who had processed loans generated both by Wells' mortgage unit and by independent brokers, a spokesman said Thursday. ... Notifications went out March 23 telling affected workers their jobs would end in 60 days ...

Join us on our Social Networks:


Share this page with your friends on your favorite social network:

Purse.IO Save on All Amazon Purchases