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Like others in the mortgage industry, San Francisco-based Wells Fargo laid off workers in their home lending unit. In the latest documents filed with the Iowa State Department of Workforce Development, Wells Fargo said it will lay off 114 people in its offices around Des Moines. Between the most recent layoffs and earlier ones, the bank will have laid off 197 people in the Hawkeye State this year.
Wells Fargo, which is likely to reduce its footprint in mortgage, revealed this week that it will shed another 125 jobs at its home lending division by the end of August.
Few originators have been left unscathed by a big reduction in origination volume. We've put together a list of mortgage lenders that have instituted layoffs in 2022. Is your lender on here?
Des Moines Register: Wells Fargo & Co. confirms it has laid off home-lending division employees after its mortgage business declined amid rising intere
Wells Fargo has confirmed that on Friday it eliminated jobs related to its mortgage-lending business, just eight days after the bank reported the largest quarterly drop in net income in nearly a decade. The bank has not disclosed how many mortgage-lending positions were eliminated, nor the costs associated with the eliminations.