Arab Today, arab today wells fargo to cut 925 jobs as refinancing drops
Last Updated : GMT 03:54:11
Arab Today, arab today
Arab Today, arab today

Wells Fargo to cut 925 jobs as refinancing drops

Arab Today, arab today

Arab Today, arab today Wells Fargo to cut 925 jobs as refinancing drops

Washington - AFP

Wells Fargo, the biggest US mortgage lender, said Thursday it would cut a further 925 jobs in its home lending business due to a decline in refinancing. \"Yesterday, across the country, we provided a 60-day notice of displacement to 925 mortgage team members,\" the company said in an emailed statement to AFP. \"We are committed to retaining as many team members as possible, working with them to identify other opportunities within Wells Fargo.\" The move came because \"the mortgage refinancing volume remained below that of last year,\" company spokesman Alfredo Padilla told AFP. Wells Fargo announced in August that it was cutting 2,300 jobs due to declines in mortgage refinancing. Last week Wells Fargo reported a 13 percent rise in third-quarter profit despite a big drop-off in home mortgages compared with the prior quarter. Wells Fargo said home lending originations sank to $80 billion, compared with $112 billion in the prior quarter, while applications fell to $87 billion compared with $146 billion. The San Francisco-based bank said that mortgage banking revenue was lower in the quarter because recent increases in interest rates had reduced refinance volume.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wells fargo to cut 925 jobs as refinancing drops Arab Today, arab today wells fargo to cut 925 jobs as refinancing drops

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wells fargo to cut 925 jobs as refinancing drops Arab Today, arab today wells fargo to cut 925 jobs as refinancing drops

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday