Wells Fargo & Co. said Wednesday that it cut an additional 46 jobs in its mortgage division in Jacksonville.
The San Francisco-based banking giant announced 102 mortgage-related job cuts in Jacksonville last summer.
Wells Fargo spokeswoman Kathy Harrison said in an email that the latest cuts were “the result of continuing market changes, including improvements in delinquency and foreclosure rates and re–duced demand for mortgage financing.”
In its earnings report last week, Wells Fargo said its residential mortgage originations in the first quarter totaled $36 billion, down from $50 billion in the fourth quarter.
The company reported net income in the quarter rose 14 percent to $5.9 billion, or $1.05 a share. Harrison said the jobs being cut are in the Deerwood Park office.