The 900 employees in National City's wholesale mortgage division learned of the layoffs on New Year's Eve. The move brings the total number of job cuts at National City in 2007 to 3,400. Two-thirds of the cuts were related to the company's mortgage operations. A spokeswoman for the Cleveland-based company says the latest round of cuts will be spread nationwide and the impact in Northeast Ohio will be minimal. Though the wholesale mortgage division is closed, the bank will continue to originate loans directly to consumers through retail and branch offices across the country. In a November 30 SEC filing, National City predicted it would take $700 million in losses from risky home loans for the 4th quarter of 2007. Mhari Saito, 90.3.
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