100 mortgage jobs cut in Texas

by Donald Horne30 Sep 2015
A hundred mortgage jobs in North Texas were eliminated when a San Antonio-based company indicated it would be laying off 105 employees.

A change in the way it does business with its mortgage customers has USAA eliminating more than a hundred mortgage jobs in North Texas.

“USAA is changing the organizational structure for its mortgage operations by co-locating mortgage processors, closers and originators,” the statement said, printed in the Dallas Morning News. “To support this model, USAA is shifting mortgage processor and closer positions from Addison to offices in Phoenix and Tampa, where its mortgage originators work.”

A Sept. 15 filing with the Texas Workforce Commission by USAA stated that the job cuts are taking place on Nov. 6 and will affect positions that are located in Addison, according to the filing required by the Worker Adjustment and Retraining Notification Act.

The statement from USAA indicated that affected positions include processors, closers and originators. It added that the move is the result of a change in USAA’s mortgage staffing model that is intended to better serve members.

USAA said that 120 people are relocating from Addison, where currently 730 people work in the Addison and Plano locations.


Should CFPB have more supervision over credit agencies?