KCLU 88.3FM - 102.3FM - 1340AM

Listen Now

Morning Edition
4:00am - 9:00am

Bank Of America Plans To Sell, Or Close Arm Of Mortgage Business Could Cost Hundreds Of Conejo Valley Jobs

Posted on Thursday, September 1, 2011 6:57pm

Efforts by Bank Of America to close, or sell an arm of its mortgage lending business could impact hundreds of jobs in the Conejo Valley.

The bank is looking at doing something with its correspondent lending arm, which could range from selling, to closing it.  The arm employs hundreds of workers in Thousand Oaks and Westlake Village, although it won’t say exactly how many.

Bank of America’s mortgage business reported a $14 billion dollars loss in the second quarter.

KCLU Local News

KCLU Featured Stories