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The Masked Tulip

Bank Of America To Cut 3,000 Jobs In Mortgage Unit

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The firm is responding to drops in refinancing and its delinquent loan portfolio and about 1,300 employees have been notified so far, primarily in its legacy mortgage group unit and home loans fulfillment unit. Operations in California, Texas and Florida will likely be impacted and the remainder of the cuts is the forecast the bank has for the fourth-quarter.


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