Ocwen Financial announces layoffs in Waterloo

WATERLOO, Iowa (AP) — A national loan servicing company has announced layoffs for more than 230 employees in Waterloo.

The Waterloo-Cedar Falls Courier reports (http://bit.ly/1eQ7n3f ) Ocwen Financial Corp. issued notices Tuesday to more than 800 workers nationally, including employees at the former GMAC Mortgage office in Waterloo. Ocwen bought GMAC Mortgage last year.

Company spokesman Rick Gillespie says the layoffs will be staggered through the first quarter of 2014, and more than 600 employees will remain in Waterloo. Most of the other layoffs occurred in Fort Washington, Pa., and Dallas.

The Iowa Workforce Development says Ocwen did not file advance notice of the layoffs under federal law.

The Atlanta-based company says the layoffs were prompted by recent acquisitions. A message left with Ocwen was not immediately returned Wednesday.

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Information from: Waterloo-Cedar Falls Courier, http://www.wcfcourier.com

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