Deutsche Bank recently laid off 580 workers at MortgageIT, National Mortgage News is reporting this evening. Citing an unidentified spokeswoman, NMN reports the job cuts reportedly took place on October 2. From the coverage:

The spokeswoman issued a statement that says, “Deutsche Bank still maintains an active loan origination platform, but is reducing its residential mortgage origination business in line with current market conditions and industry demand.”

My best wishes to those affected.