As Morgan Stanley and other Wall Street Brokerage Houses regroup and reposition their mortgage portfolios the servicing end of their mortgage business continues to have a rough outlook. After announcing nationwide layoffs could be expected due to the economic determination in their mortgage business power house brokerage Morgan Stanly sent notice to the Texas Department of Labor saying it will lay off 100 employees in their Ft Worth Texas Service Center.
Saxon Mortgage Layoffs Hit Fort Worth
Kerri Panchuk | 02.29.08More than a week after Morgan Stanley announced layoffs within its residential mortgage platform, its lending subsidiary Saxon Mortgage Services was mentioned in a warn letter mailed to the Texas Workforce Commission to inform them of 100 job cuts at a Saxon facility in Fort Worth, Texas.
Earlier this month, Morgan Stanley announced layoffs within its residential mortgage lending operations due to current deterioration in the mortgage marketplace.
Keller Williams Realty
Your Middle Tennessee Real Estate Expert