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Wells Fargo Home Mortgage closing operations site in Concord

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Wells Fargo Home Mortgage is closing its wholesale lending operations site in Concord, Calif., the bank subsidiary said Monday. The facility processes loans for third-party mortgage brokers. Wells said it will consolidate its work from the Concord center into its Irvine, Calif., operations. The 137 affected staff members will receive a 60-day notice, and Wells Fargo said they have the opportunity to apply for other positions within Wells Fargo. "We're adjusting business to ensure that we continue to meet business targets related to service, productivity and profitability. To be successful, we must consistently meet these targets,” said Kathleen Vaughan, executive vice president for Wells Fargo's wholesale lending business. "The changes we're making allow us to operate in the most economical and efficient manner possible, while still serving our broker clients." Write to Christine Ricciardi.

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