Top Des Moines private employer Wells Fargo cuts jobs as mortgage business sputters
BPC Staff Apr 27, 2022 | 3:47 pm
<1 min read time94 wordsAll Latest News, Banking & Finance, Iowa News
Des Moines Register: Wells Fargo & Co. confirms it has laid off home-lending division employees after its mortgage business declined amid rising interest rates. Bank spokesperson Lylah Holmes told the Des Moines Register in an email that the company cut positions last week because of “cyclical changes in the broader home lending environment,” confirming earlier reporting by Business Insider and American Banker. Holmes did not directly respond to the Register’s questions about the impact in the Des Moines metro, where the bank bases its home mortgage division and is the city’s top private employer.