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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Wells Fargo has laid off 140 employees from its home-lending division’s correspondent channel. So reports The State Journal-Register.
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.