Employees were notified last month and the job cuts will occur on
"The number of delinquent mortgage loans we service has decreased to one-fourth their peak levels. As we continue to resolve the needs of these customers and experience lower customer demand for mortgage refinancing, we are reducing the size of the operations that support these specialized programs," Bauwens said in an email.
Workers affected by the changes were being encouraged to apply for other open positions at locations around the state. There are currently 75 open positions, she said.
Banks have been pruning their mortgage staffs because of a decline in business as rising rates crimp refinancings and loan originations.
(c)2014 The Pittsburgh Tribune-Review (Greensburg, Pa.)
Visit The Pittsburgh Tribune-Review (Greensburg, Pa.) at www.triblive.com
Distributed by MCT Information Services