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In the process, reports the LAT, hundreds of loan officers are being let go. The offices only handled home loans and not other bank services, and many of them were located in states that didn't have full-service branches, including Alaska, Alabama, Wisconsin, and Wyoming. Other offices were closed based on low loan volume, including locations in Tustin and Arroyo Grande. B of A still has a network of more than 500 home lending offices, even after the closings.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Economy stories:
Those awful infographics that promise to explain and only distortBest to low-ball today's employment report
Exit interview with Port of L.A.'s executive director
L.A. developers relying on foreign investors bend a few rules
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.