Saxon Mortgage, a unit of Ocwen Financial Corp., will lay off 454 employees of its servicing operations in the Fort Worth, Texas, area.
The Fort Worth Star-Telegram reports that the layoffs will begin May 28, when Saxon shuts down its Fort Worth servicing operation. The company will also lay off another 226 people when it closes a corporate office in Irving, Texas.
Saxon Mortgage's servicing operations were purchased by Ocwen last year from Morgan Stanley. The company, which did not issue a press statement on the layoffs, declined to offer a public comment on the news.
