Wells Fargo cutting 95 Jacksonville jobs
Wells Fargo & Co. said Wednesday it is cutting 2,300 jobs in its mortgage lending division, including 95 in Jacksonville.
Kathy Harrison, a spokeswoman in Jacksonville for the San Francisco-based banking giant, said the jobs involved mortgage processing.
She said the local mortgage processing operation is not shutting down, but she did not know the total number of employees in that division in Jacksonville.
Mortgage lenders and related companies have been bracing for a slowdown in activity as interest rates rise.
Jacksonville-based title insurance company Fidelity National Financial Inc. said two weeks ago that it has cut 670 jobs nationwide and fewer than 40 in Jacksonville because of a slowdown in mortgage refinancing activity. However, Fidelity said hiring in other areas will offset the loss of jobs in Jacksonville.