Wells Fargo & Co., the top depositary mortgage lender in the country, is cutting jobs in its home lending business, just days after reporting weak mortgage earnings in the first quarter of 2022.
“The home lending displacements this week are the result of cyclical changes in the broader home lending environment,” a Wells Fargo’s spokesperson told HousingWire.
The company did not specify the size of the workforce reduction, though sources told HousingWire it affected hundreds of mortgage processors. Wells Fargo is providing severance, career counseling and helping employees details ⇒
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