Mortgage Co. Lays Off 244 in Ft. Washington - NBC 10 Philadelphia

Mortgage Co. Lays Off 244 in Ft. Washington



    Mortgage Co. Lays Off 244 in Ft. Washington

    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

    More stories:

    For more breaking business news go to