Wells Fargo & Co., the biggest U.S. mortgage lender, is eliminating 1,865 more jobs in its home-loan production business as rising mortgage rates curtail borrowers' demand for refinancing, Bloomberg reported. Angela Kaipust, a Wells Fargo spokeswoman, said that none of the 1,865 jobs that are being cut are in Iowa. "We continue to adapt staff to meet the business need," she said. Wells Fargo said last week it expects a 29 percent decrease in mortgage originations in the third quarter compared with last quarter. The job reductions are in addition to 3,000 announced earlier this quarter, Tom Goyda, a spokesman for the San Francisco-based bank, said in an interview yesterday. Those included 2,300 announced Aug. 21 and smaller cuts prior to that, Goyda said. Wells Fargo is cutting jobs as higher borrowing costs slow refinancings and new home purchases fail to compensate for the decline.