Hundreds of mortgage employees in North Texas are being laid off by Capital One Financial Corp. The job cuts come less than a year after over 700 people were let go from the same location.

Back in November 2017, the McLean, Virginia-based company disclosed plans to close it mortgage business. The decision impacted more than 900 people, including 750 in Plano, Texas.

Capital One President of Financial Services Sanjiv Yajnik at the time blamed the division’s “structurally disadvantaged position, given the challenging rate environment and marketplace.”


Source: Mortgage Daily