Wells Fargo lays off 92 in Portland

Wells Fargo lays off 92 in Portland

Wells Fargo has laid off 92 employees at a Portland mortgage center over the past few months.

The San Francisco-based bank notified Oregon officials of several rounds of reductions at the facility since August. The laid-off employees are mostly mortgage underwriters and loan specialists, along with a handful of loan officers and managers.

Home mortgage business -- particularly in refinancing loans -- declined in recent months as mortgage rates rose. As a result, Wells Fargo laid off 1,800 employees from its mortgage department in September after cutting about 2,300 jobs from the same unit in August.

Read more at OregonLive.com.