The company plans to move hundreds more to other divisions, with about 1,000 U.S. staffers affected in all.
Bloomberg also cited an unnamed source as saying that Wells Fargo, too, had been laying off and reassigning its home-lending employees.
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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
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JPMorgan Lays Off Hundreds of Home Lending Pros
JPMorgan Chase has confirmed that it will lay off hundreds of home lending employees “as a result of cyclical changes in the mortgage market.” So reports Bloomberg.
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