Walter Investment Management Corp. subsidiary Ditech Financial plans to lay off more than 100 employees in North Carolina and Texas following declines in defaults across the country.
Ditech filed a notice with the North Carolina Department of Commerce last Friday noting that it will lay off 65 employees in Greensboro, citing an office closure as the reason. Ditech also plans to shutter an office in San Antonio, laying off 78 employees in the process, according to
A spokeswoman for Ditech confirmed that layoffs were happening, but declined to provide specifics. A statement from the company noted that Ditech decided "to consolidate some servicing and technology functions" at its larger worksites for improved efficiency. The company also said that it has reconfigured its collections and loss mitigation roles.
"Over the past several years the mortgage industry has shifted to a more 'normalized' market, as defaults across the industry continue to decline," the statement read. "This shift in the market environment led us to re-evaluate our operating model."
The layoffs come on the heels of other changes Ditech has made in the face of changing market dynamics.
The company announced it would
