First Collateral Services Inc. has notified the state of California of planned layoffs, according to Worker Adjustment and Retraining Notifications. The Citigroup Inc. subsidiary said in the latest filing that approximately 75 layoffs are planned at the unit this year. First Collateral filed a WARN notice earlier this year indicating another 142 layoffs were planned.
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Welcome to Mortgage-Lending-News.Com. The United States Mortgage Industry is at a crossroads. Hundreds of billions in loans and real estate valuations have been lost due to the sub-prime mortgage crisis. Even worse, billions more are at risk during the first half of 2008, as even more adjustable rate mortgages reset their rates. Hardly a day goes by that we don't hear of a foreclosure crisis in the news. Quite simply, there is too much news for us to keep up with, so we built this Mortgage site, initially as a means for us to internally follow what is going on in the mortgage industry. Now, we are sharing it with you.
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