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Bank of America to slash servicing positions

Bank of America to slash servicing positions

Bank of America informed the state of Pennsylvania that it plans to slash 209 mortgage servicing-related jobs at a facility in Pittsburgh.

The company’s spokeswoman Jumana Bauwens released a statement, saying the cuts are part of a previously announced plan to “reduce the size of mortgage servicing operations.” The bank notes the cuts come at a time when BofA (BAC) is achieving more success in reducing its portfolio of delinquent mortgage customers.

“Compared to peak levels in 2011, today we have fewer than half the numbers of customers who need the specialized programs and support of this team,” Bauwens said. “We will not sacrifice service to our customers in need of assistance.”

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