DALLAS, April 19, 2011 /PRNewswire/ -- Thousands of mortgage employees at Bank of America Home Loans and Wells Fargo & Co. have lost their jobs so far in 2011. The staffing cuts are the result of rising interest rates and falling loan originations. Mortgage Daily is providing help for these displaced employees.
BofA said Thursday that it would close more than 100 fulfillment centers. The consolidation impacts more than 1,500 employees.
BofA reported Friday that its first-quarter mortgage originations were down a third from the fourth quarter.
First-quarter mortgage-related layoffs at Wells Fargo nearly reached 2,500, according to reports by MortgageDaily.com -- a leading online news publication for the mortgage industry. The staffing cuts, mostly interim employees, resulted from a decline in refinance production.
But Mortgage Daily -- a paid-subscription news publication -- has also covered thousands of planned mortgage-related hirings. And many of the recruiting employers might be very interested in originators and production personnel who have worked at the two largest mortgage lenders.
That's why Mortgage Daily will now provide free news subscriptions to mortgage employees who were impacted by the recent layoffs at BofA or Wells Fargo. In addition, the trade publication will step up its coverage of successful, growing lenders and firms that are recruiting.
With access to MortgageDaily.com's news stories about lenders that are hiring, job openings in mortgage-related fields and executive recruiting -- impacted employees might find new employment more quickly and become long-term MortgageDaily.com subscribers.
In addition, MortgageDaily.com's widely recognized mortgage statistics and comprehensive industry coverage will help job prospects be better prepared for upcoming interviews.
The offer expires on May 31, 2011.
Subscriber prospects can signup online for their free news subscriptions at: www.MortgageDaily.com/GetEmployed.asp
Complete Mortgage Employment news coverage is available online at: http://www.mortgagedaily.com/MortgageEmployment.asp?spcode=pr
Complete Mortgage Executive news coverage is available online at: http://www.mortgagedaily.com/Corporate.asp?spcode=pr