Industry News

Mortgage lender ResCap to eliminate 1,000 jobs

Slower originations, deterioration of subprime sector cited
Published on Jan 17, 2007

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by CareyBot

Residential Capital LLC will lay off 800 workers by October and leave 200 openings unfilled — a net loss of 1,000 jobs that will cost the mortgage lender $10 million now but save $65 million next year. Minneapolis-based ResCap, the ...