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A number of lenders have slashed jobs in response to the changing market. Wells Fargo said last month that it would cut 1,800 mortgage related positions after cutting about 2,300 jobs from the same unit in August. Citigroup said in September that it is slashing about 1,000 jobs in Nevada and Texas, citing decreased demand for home loans and mortgage refinancing. And SunTrust Banks Inc. said last week it will cut 800 positions in its mortgage business based on current market conditions Shares of Bank of America Corp., based in Charlotte, N.C., slipped 4 cents to close at $14.17 amid a broader market uptick.
[Associated
Press;
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