JPMorgan Chase recently dismissed 74 employees in Florida as the lender shuffles staff to accommodate demand for mortgage refinances, according to press reports in the Jacksonville area.
The layoffs follow the bank's decision to shift some of the roughly 2,700 employees at its Jacksonville-based home lending operation from servicing residential mortgages to originating loans.
Low interest rates have spurred many homeowners to refinance their mortgage loans with
About 80% of mortgage applications filed during the first week of September sought to refinance an existing mortgage, the
A Chase spokeswoman confirmed the layoffs and added the company has no plans to dismiss additional workers in Jacksonville this year.
In August, Bank of America notified state authorities of plans to lay off 63 employees at its Jacksonville facility, which performs back-office services for the company, by February.
