HousingWire reveals the 50 fastest-growing companies in housing economy

HousingWire reveals the 50 fastest-growing companies in housing economy

Inaugural 2014 HW Fast50 ranks public, private companies on revenue growth

Chinese investors remain an X Factor for the US housing market

So what does this mean for homeowners and buyers?

Judge throws out Fannie and Freddie investors’ lawsuit

Decision favors Federal government
W S

Citigroup plans to lay off 2,200 workers

Cuts to happen by early next year

cut money
/ Print / Reprints /
| Share More
/ Text Size+

According to Fox Business, Citigroup (C) plans to lay off a projected 2,200 workers within its mortgage business by early next year, as rising mortgage rates hinder the mortgage lending and refinance business.

Factoring in Citigroup’s expected job cuts, the nation’s biggest mortgage lenders, Wells Fargo, Bank of America and JPMorgan Chase, are now expected to lay off 22,300 workers in their mortgage units in coming months.

When asked for comment, Mark Rogers, Citigroup’s director of communications, told Fox Business: “We recently announced the closing of the CitiMortgage Danville, Illinois, facility due to decreased refinance volumes, and discontinued some telesales positions. We have nothing further to announce at this time.”

Source: Fox Business
Read full story

Recent Articles by Brena Swanson

Comments powered by Disqus