Several dozen positions are being eliminated by Stearns Lending LLC at a mortgage facility that is located in North Texas.
The Santa Ana, California-based mortgage banking firm made a filing as required by the Worker Adjustment and Retraining Notification Act.
According to the filing, which was made on Feb. 1, Stearns plans to layoff 85 people. The location of the
employees is Lewisville, a sprawling suburb of Dallas.
The WARN notice was filed with the Texas Workforce Commission.
While the filing didn’t indicate what positions are impacted, recent help wanted ads for Lewisville include several production positions.
The last day for the impacted workers is April 2. WARN notices are required 60 days before the planned layoff of 50 or more employees.
Stearns last reported company-wide staffing as part of the
Mortgage Daily Third Quarter 2016 Mortgage Origination Survey at 2,088 employees.
In 2015, Stearns was acquired by funds managed by the private equity group of The Blackstone Group LP.
