– U.S. Bank is the fourth-largest mortgage lender in the country
– This week, the bank is laying off staffers in its mortgage division
– No specific number of layoffs has been announced, but it is thought that several hundred employees will be affected
– The layoffs are a result of the bank’s decision to exit the wholesale mortgage business
– U.S. Bank is not the only lender to make this decision; several other large banks have also pulled back from the wholesale mortgage business in recent years
– The move is a response to the tightened regulations that have been put in place since the financial crisis
U.S. Bank is laying off staffers in its mortgage division this week. No specific number of layoffs has been announced, but it is thought that several hundred employees will be affected. The layoffs are a result of the bank’s decision to exit the wholesale mortgage business.
U.S. Bank is not the only lender to make this decision; several other large banks have also pulled back from the wholesale mortgage business in recent years. The move is a response to the tightened regulations that have been put in place since the financial crisis.
You can read this full article at: https://www.housingwire.com/articles/us-bank-imposes-mortgage-layoffs/(subscription required)
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