Economy & Business

Here We Go: Wells Fargo Begins Layoffs From Mortgage Staff

Wells Fargo, the nation’s largest home lender among US banks, has begun laying off mortgage staff after reporting a sharp decline in home lending revenues in the first quarter of 2022, Insider has learned.

Word of the jobs cuts were first seen on job-sharing website The Layoff, where multiple posters complained of layoffs within the bank’s mortgage operations teams, which include loan processors and underwriters.

Wells Fargo on Friday confirmed that there were layoffs within its home lending operation, but declined to specify the scope of cuts. Read more…

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