In addition to some of the high-profile rounds of mortgage layoffs previously reported, a stream of less prominent staff reductions are beginning to add up for the industry.
In August, Wells Fargo & Co. disclosed that it was eliminating 638 mortgage positions. While details about impacted locations were initially sparse, reports subsequently emerged providing a clearer picture.
In a filing with the Maryland Department of Labor, Licensing & Regulation as required by the Worker Adjustment and Retraining Notification Act, Wells revealed that 43 of the layoffs were in Frederick.
Source: Mortgage Daily