Wells Fargo, the nation's largest mortgage lender, plans to eliminate 700 more jobs as fewer borrowers are looking to refinance their mortgage loans.

Most of those job cuts are processors of consumer mortgage loans, a Wells Fargo spokesman said Thursday in an email to American Banker. All the affected employees were given 60 days' notice, he said.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry