Saxon Mortgage Closing Two North Texas Shops, Lays Off 680

Given that home sales remain mired near their all time record lows, I'm surprised we don't see more stories like this. Here is the Dallas Business Journal with the details:

Saxon Mortgage, which services home mortgages, plans to close a pair of North Texas facilities and lay off nearly 680 people.

That’s according to a March 28 filing with the Texas Workforce Commission.

Based in Glen Allen, Va., Saxon Mortgage plans to shutter facilities located at 3701 Regent Blvd. in Irving (affecting 226 people) and 4700 Mercantile Dr. in Fort Worth (454 people), according to the Texas Workforce Commission filing.

The layoffs are planned to start on May 28 and will continue through Dec. 31, the company’s letter said.

And so it goes.


Bonus: A little ditty dedicated to the home mortgage industry