The bank said it has been planning for several years to leave the correspondent business, which buys loans originated by other financial institutions.
All of the affected employees were based in Springfield, Illinois.
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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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Wells Fargo Pink-Slips 140, Exiting Correspondent Channel
Wells Fargo has laid off 140 employees from its home-lending division’s correspondent channel. So reports The State Journal-Register.
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