JPMorgan will cut at least 13,000 mortgage jobs
JPMorgan Chase (JPM) the leading global bank, announced they will reduce head count by 13,000 to 15,000 employees in the mortgage unit through 2014.
This number is on top of the 4,000-person reduction in the consumer banking unit of the company, reported earlier.
"We will work with affected employees to find openings at Chase or local companies."
The announcement comes as Wingspan Portfolio Advisors entered into an agreement to acquire JPMorgan Chase mortgage servicing operations in Melbourne, Fla.
Wingspan, a component and special mortgage servicer, said it would offer positions to more than 400 Chase staff members, while officially acquiring the lease of the staff’s Melbourne office building.
The expansion means Dallas-based Wingspan now has an employee base of 2,000 staff members in four locations throughout Texas and Florida.