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Jul28
Regions Mortgage

Regions Bank is moving its mortgage banking headquarters operations to Birmingham, Alabama and in return will eliminate 100 jobs in Memphis . What happens to those workers? Will they get severance pay, offered the chance to transfer or start all over in the job market? Sometimes when people are offered the chance to transfer they actually lose money in the end. Think it through clearly because if you are going to take a loss to move, will it be worth it? As part of their move, they will begin servicing some $7 billion in AmSouth mortgage accounts which are currently handled by a third party. Maybe it is just me, but if they are going to begin servicing some $7 billion in mortgage accounts, there should be enough money that no one should have to take a severance. Seems as if they could sweeten the deal for those employees that transfer.

 


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« Mortgage Rates Come Tumbling Down | Main | Reverse Mortgages - Do or Don't »

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