Mortgage Co. Lays Off 244 in Ft. Washington

By Jeff Blumenthal | Philadelphia Business Journal
|  Wednesday, Dec 4, 2013  |  Updated 9:12 AM EDT
View Comments (
)
|
Email
|
Print
Mortgage Co. Lays Off 244

Shutterstock

Ocwen Financial Corp., an Atlanta-based mortgage servicer that bought GMAC Mortgage last year, issued layoff notices to 800 employees, including 244 in Ft. Washington, Pa.

The company did not layoff anyone in its Mt. Laurel, N.J. location. The other layoffs included 238 in Waterloo, Iowa and 237 in Dallas, Texas, according to the Ceder Valley Business Monthly Online.

Ocwen officials could not be immediately reached for comment Wednesday morning but the company’s Vice President of Marketing, Rick Gillespie, told the publication that the cutbacks primarily affected workers in mortgage servicing jobs in a range of seniority levels and were a result of recent Ocwen acquisitions, including the October 2012 purchase of GMAC Mortgage from bankrupt mortgage company Residential Capital, known as ResCap. Read more about this story on PBJ.com

More NBC10.com stories:

For more breaking business news go to PBJ.com

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
10 Questions With
We sit down with some of the... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out