Wells Fargo, the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel.

“I can’t provide any specifics but we announced in January strategic plans to create a more focused Home Lending business,” Tom Goyda, senior vice president of consumer lending communications at Wells Fargo, said in an e-mailed response. 

The cuts were part of the company’s efforts to simplify the home lending business that it has worked on over the past three years — and were also in response to significant details ⇒

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