The default servicing segment of the mortgage market is definitely in transition as layoffs continue to hit customer call centers that deal directly with troubled borrowers.
JPMorgan Chase filed a notice with the state of New York, disclosing a planned layoff of 412 call center employees at a mortgage default operations division.
The call center located in the Finger Lakes Region is closing, citing economic reasons.
The notice from JPMorgan Chase mirrors one filed in Texas this month by OneWest Bank.
OneWest plans to lay off 725 employees at a customer service facility in Austin, Texas, according to a letter filed with the state of Texas.
While the firm did not specify the positions cut, most of the jobs fall within the customer care or outreach category.
