Wells Fargo To Lay Off Up To 1,000 Mortgage Workers, Close Milwaukee Servicing Shop

Posted by Patrick Barnard on March 25, 2015 No Comments
Categories : Mortgage Servicing

Wells Fargo is reportedly closing its mortgage servicing center in Milwaukee, resulting in layoffs for about 1,000 workers.

According to a Reuters report, citing an email that was distributed by the bank, the decision to close the facility is due to the recent decline in delinquencies and foreclosures. Not only are more homeowners staying current on their mortgages as the economy improves, but many of those who were facing foreclosure previously have received loan modifications or other workouts that have enabled them to retain their homes.

Wells Fargo will close the office in late July and will inform employees of other job opportunities within the company, according to the Reuters report.

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